Sharps Compliance Announces New $36.0 Million Credit Facility
22 Marzo 2022 - 6:30AM
Sharps Compliance Corp. (NASDAQ: SMED) (“Sharps” or the “Company”),
a leading full-service national provider of comprehensive waste
management solutions including medical, pharmaceutical and
hazardous, today announced that it has entered into a new $36.0
million credit facility with a commercial bank. The new facility
will be available for, (i) working capital and other general
corporate purposes (up to $6.0 million, expandable to $10.0 million
via an accordion feature) and (ii) funding for acquisitions (up to
$30.0 million). The agreement replaces the Company's $14.0
million existing credit facility.
David P. Tusa, President and Chief Executive
Officer of Sharps, commented, "This new credit facility further
enhances our liquidity beyond our significant cash position
providing substantial flexibility to pursue our growth plans
including potential acquisitions. We believe the ability to secure
the new facility is a testament to the Company’s performance,
leadership position in markets served and attractive operating
model.”
Details of the new credit agreement are outlined
in the Company's Current Report on Form 8-K, which will be filed
with the Securities and Exchange Commission.
About Sharps Compliance Corp.
Headquartered in Houston, Texas, Sharps
Compliance (NASDAQ: SMED) is a leading business-to-business
services provider to the healthcare, long-term care and retail
pharmacy markets. Sharps Compliance offers comprehensive solutions
for the management of regulated medical waste, hazardous waste and
unused medications. For more information, visit:
www.sharpsinc.com.
Forward-Looking Statements
The information made available in this news
release contains certain forward-looking statements relating to the
Company that are based on the beliefs of the Company’s management
as well as assumptions made by and information currently available
to the Company’s management. When used in this document, the words
"may," “position,” "plan," “potential,” “designed,” “continue,”
"anticipate," "believe," "expect," "estimate," “project,” and
“intend” and words or phrases of similar import, as they relate to
the Company or its subsidiaries or Company management, are intended
to identify forward-looking statements. Such statements reflect the
known and unknown risks, uncertainties and assumptions
related to certain factors including, without limitation,
competitive factors, general economic conditions, customer
relations, relationships with vendors, governmental regulation and
supervision, seasonality, distribution networks, product
introductions and acceptance, technological change, changes in
industry practices, onetime events and other factors described
herein including the impact of the coronavirus COVID-19
(“COVID-19”) pandemic on our operations and financial results.
Based upon changing conditions, should any one or more of these
risks or uncertainties materialize, or should any underlying
assumptions prove incorrect, actual results may vary materially
from those described herein as anticipated, believed, estimated,
expected or intended. Consequently, no forward-looking statements
can be guaranteed. When considering these forward-looking
statements, you should keep in mind the risk factors and other
cautionary statements in the Company’s Quarterly Reports on Form
10-Q, our Annual Report on Form 10-K, and our other filings with
the Securities and Exchange Commission. Actual results may vary
materially. You are cautioned not to place undue reliance on any
forward-looking statements. You should also understand that it is
not possible to predict or identify all such factors and as such
should not consider the preceding list or the risk factors to be a
complete list of all potential risks and uncertainties. The Company
does not intend to update these forward-looking statements.
Eric BauerSharps Compliance Corp.Executive Vice President and Chief
Financial OfficerPhone: (713)
660-3543Email: ebauer@sharpsinc.com |
John Nesbett/Jennifer BelodeauIMS Investor RelationsPhone: (203)
972-9200Email: jnesbett@institutionalms.com |
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