Harvard Bioscience shares surge 10.76% intraday after securing $40M credit facility with BroadOak to refinance debt and extend maturities.

Harvard Bioscience surged 10.76% intraday after announcing a $40 million debt refinancing with BroadOak Capital Partners, which extended its debt maturity to 2029 and enhanced liquidity. The transaction included $32.5 million in senior secured term loans (Term A/B) and a $7.5 million convertible term loan (Term C), with proceeds used to retire existing obligations. BroadOak also gained board representation through Bill Snider, a seasoned life sciences investor, and warrants to purchase 2 million shares at $0.50. The refinancing reduces near-term refinancing risks, strengthens the balance sheet, and aligns with the company’s strategic focus on long-term growth. The addition of Snider and a new advisory board further signals operational and commercial improvements, bolstering investor confidence in Harvard Bioscience’s ability to capitalize on regulatory and market opportunities in life sciences.