With respect to that certain Credit Agreement and Guaranty, dated as of October 2, 2020, by and among Invitae Corporation (the “Company”), the subsidiary guarantors from time to time party thereto, the lenders from time to time party thereto and Perceptive Credit Holdings III, LP as the Administrative Agent (such Credit Agreement, as amended to date, the “Secured Credit Facility”), on February 7, 2023, the Company prepaid $50 million in principal of the $135 million in principal outstanding under the Secured Credit Facility, together with accrued interest on such prepaid principal of $713,027.78 and a prepayment fee of $3 million as required under the terms of the Secured Credit Facility. Such prepayment was made by the Company at its sole election, with the amount of such prepayment largely represented by the proceeds received by the Company from its December 19, 2022 sale to Integrated DNA Technologies, Inc. of assets related to the research use only distributed target enrichment kit and data analysis platform business of the Company’s ArcherDX, LLC subsidiary.
The principal amount prepaid, together with the balance of the principal outstanding and the other obligations of the Company under the Secured Credit Facility, would otherwise have become due on the maturity date for the Secured Credit Facility which is currently June 1, 2024.
The foregoing discussion, to the extent involving the Secured Credit Facility, does not purport to be complete and is qualified in its entirety by reference to the original Secured Credit Facility as well as the first and second amendments thereto, which are Exhibits 10.1, 10.2 and 10.3, respectively, to this Current Report on Form 8-K, and incorporated herein by reference.