Exactech Signs New $40 Million Revolving Line of Credit
GAINESVILLE, Fla. -- June 16, 2008 -- Exactech Inc. (Nasdaq: EXAC), a developer and producer of bone and joint restoration products for hip, knee, shoulder, spine and biologic materials, announced today it has signed a new $40 million syndicated line of credit.
GAINESVILLE, Fla. -- June 16, 2008 -- Exactech Inc. (Nasdaq: EXAC), a developer and producer of bone and joint restoration products for hip, knee, shoulder, spine and biologic materials, announced today it has signed a new $40 million syndicated line of credit.
The secured credit revolver will be available to fund future
acquisitions, refinance debt, and provide for capital expenditures and
working capital. SunTrust Bank served as lead agent with participation
by Compass Bank. The new credit facility matures in five years.
Exactech CEO Bill Petty said, “This multi-year facility provides the
financial flexibility for Exactech to continue to execute our strategic
plan. We look forward to further developing our relationship with these
two banks and are pleased that we were able to expand and extend our
main credit facility under these terms.”
About Exactech
Based in Gainesville, Fla., Exactech
develops and markets orthopaedic implant devices, related surgical
instruments and biologic materials and services to hospitals and
physicians. The company manufactures many of its orthopaedic devices at
its Gainesville facility. Exactech’s orthopaedic products are used in
the restoration of bones and joints that have deteriorated as a result
of injury or diseases such as arthritis. Exactech markets its products
in the United States and Australia, in addition to more than 30 markets
in Europe, Asia and Latin America. Additional information about
Exactech, Inc. can be found at www.exac.com.
Copies of Exactech’s press releases, SEC filings, current price quotes
and other valuable information for investors may be found at www.exac.com and www.hawkassociates.com.
An investment profile on Exactech may be found at www.hawkassociates.com/profile/exac.cfm.
Investors may contact Chief Financial Officer Jody Phillips at
352-377-1140 or Julie Marshall or Frank Hawkins, Hawk Associates Inc.,
at 305-451-1888, e-mail: exactech@hawkassociates.com. To receive future releases in e-mail alerts, sign up at www.hawkassociates.com/about/alert.
This release contains various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which represent the company’s expectations or beliefs concerning future events of the company’s financial performance. These forward-looking statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. These factors include the effect of competitive pricing, the company’s dependence on the ability of third party manufacturers to produce components on a basis which is cost-effective to the company, market acceptance of the company’s products and the effects of government regulation. Results actually achieved may differ materially from expected results included in these statements.
