Contract analysis
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Contract analysis / funds-flow-memo-draft.xlsx
funds-flow-memo-draft.xlsx
High · 2
Medium · 0
Standard · 1
1. Term Loan Drawdown | Ironclad Trust Company, N.A. (as Administrative Agent) / Summit Ri
1. Term Loan Drawdown | Ironclad Trust Company, N.A. (as Administrative Agent) / Summit Ridge Capital Partners, LP (as Lead Arranger) | Commitment Letter Ref. CL-2024-PPCA-0607 dated June 7, 2024 | $500,000,000 | SOFR + 225 bps; $500,000,000 committed term loan facility
2. Penterra Cash on Hand | Penterra Pharmaceuticals Corp. | Penterra operating account — [
Standard
⚑ Commercial term
2. Penterra Cash on Hand | Penterra Pharmaceuticals Corp. | Penterra operating account — [Wire instructions TBD] | $400,000,000 | From PPC cash on hand (Q2 2024 balance: $2,100,000,000) TOTAL SOURCES | $900,000,000 | Must equal Total Uses [sheet: Uses of Funds] Line Item | Recipient / Payee | Account / Reference | Amount | Percentage of Purchase Price | Notes
1. Indemnification Escrow Deposit | Fidelis National Escrow Corp. (Escrow Agent) — 601 Riv
High
⚑ Indemnity / guarantee obligation
1. Indemnification Escrow Deposit | Fidelis National Escrow Corp. (Escrow Agent) — 601 Riverside Avenue, Jacksonville, FL 32204; Contact: Brian Mulcahy, SVP | Indemnification Escrow Account — [Account No. TBD] | $180,000,000 | 20.00% | Per SPA § 2.3(a); Indemnification cap = 20% of Purchase Price; 1% tipping basket ($9,000,000)
2. Stockholder Representative Expense Fund | Fidelis National Escrow Corp. (Escrow Agent)
2. Stockholder Representative Expense Fund | Fidelis National Escrow Corp. (Escrow Agent) — 601 Riverside Avenue, Jacksonville, FL 32204; Contact: Brian Mulcahy, SVP | Stockholder Rep. Expense Fund Account — [Account No. TBD] | $2,500,000 | 0.28% | Per SPA § 2.3(b); For use by David Ng (Crestline Ventures, LP) as Stockholder Representative
3. Net Closing Payment to Sellers | Veridian Biosciences, Inc. Stockholders (via Paying Ag
High
⚑ Indemnity / guarantee obligation
3. Net Closing Payment to Sellers | Veridian Biosciences, Inc. Stockholders (via Paying Agent / Stockholder Representative) | [Wire instructions TBD — to be provided by Zalcourt Archer & Cole LLP] | $717,500,000 | 79.72% | Per SPA § 2.1; Net of escrow holdbacks; distributed pro rata to Sellers per capitalization table TOTAL USES | $900,000,000 | 100.00% | Must equal Total Sources [sheet: Funds Flow Sequence] Step No.