Lifecore Biomedical enters into $150M in new financing with Alcon, expands supply deal

Lifecore Biomedical (NASDAQ:LFCR) on Monday said it had entered into agreements with its long-term customer Alcon for the repayment of its existing credit agreement and a new supply agreement.
“The closing of the new credit arrangement and equipment sale and leaseback provides for the repayment of our current term loan agreement with more favorable terms and greater flexibility," LFCR CEO James Hall said in a statement.
The company expanded the term of its hyaluronic acid (HA) supply agreement with Alcon by a decade to December 31, 2033.
The expanded supply agreement "increases the amount of expected HA product to be delivered by Lifecore to Alcon at Lifecore’s existing facilities," LFCR said.
LFCR stock was up 3% to $5.52 after hours.