LanzaTech Extends Loan Maturity to December 2029
ByAinvest
Friday, Jun 6, 2025 7:15 am ET1min read
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On June 2, 2025, LanzaTech Global fulfilled its obligations under a Series A Convertible Senior Preferred Stock Purchase Agreement by securing consent from BGTF LT Aggregator LP to amend existing loan and framework agreements [1]. The amendments extend the loan maturity dates and adjust interest rates, impacting the company’s financial strategy and stakeholder agreements. The most significant change includes extending the maturity date from October 3, 2027, to December 3, 2029, with interest rates set at 8% annually until December 3, 2028, and 12% thereafter [2].
In addition to the loan agreement amendments, LanzaTech Global has appointed Michael Heraty as Chief Accounting Officer, succeeding Sushmita Koyanagi, who has been promoted to Chief Financial Officer. Heraty brings extensive experience in finance and audit, having previously worked at Intelsat, Gogo, Whirlpool, and Verizon Communications [3].
The recent amendments and leadership changes reflect LanzaTech Global's strategic intent to navigate its financial challenges. Despite the company's significant liquidity, as indicated by a current ratio of 2.17, it continues to face challenges with negative EBITDA of -$108.99 million [2]. The company's stock price has seen an 84.5% decline year-to-date, but it maintains a strong focus on sustainable innovation and carbon recycling technology.
LanzaTech Global's stock is currently trading at $0.21 with a market capitalization of $49.2 million [2]. The company's recent developments underscore its ongoing efforts to extend financing deadlines and secure necessary approvals to sustain its operations and growth initiatives.
References:
[1] https://www.tipranks.com/news/company-announcements/lanzatech-global-amends-loan-agreements-appoints-new-cao
[2] https://uk.investing.com/news/sec-filings/lanzatech-amends-stock-purchase-agreement-extends-financing-deadlines-93CH-4116440
[3] https://www.investing.com/news/sec-filings/lanzatech-announces-key-agreements-and-leadership-changes-93CH-4084705
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LanzaTech Global has consented to amend its loan agreement, extending maturity to December 2029. The company is a carbon recycling firm that transforms waste carbon into sustainable raw materials for everyday products, using its bio-recycling technology to capture carbon generated by energy-intensive industries and give it a new life as a clean replacement for virgin fossil carbon.
LanzaTech Global, Inc. (NASDAQ: LNZA), a biotechnology firm specializing in carbon recycling, has consented to amend its loan agreement, extending the maturity date to December 2029. The company's latest move follows a series of strategic adjustments aimed at managing its financial obligations and enhancing operational flexibility.On June 2, 2025, LanzaTech Global fulfilled its obligations under a Series A Convertible Senior Preferred Stock Purchase Agreement by securing consent from BGTF LT Aggregator LP to amend existing loan and framework agreements [1]. The amendments extend the loan maturity dates and adjust interest rates, impacting the company’s financial strategy and stakeholder agreements. The most significant change includes extending the maturity date from October 3, 2027, to December 3, 2029, with interest rates set at 8% annually until December 3, 2028, and 12% thereafter [2].
In addition to the loan agreement amendments, LanzaTech Global has appointed Michael Heraty as Chief Accounting Officer, succeeding Sushmita Koyanagi, who has been promoted to Chief Financial Officer. Heraty brings extensive experience in finance and audit, having previously worked at Intelsat, Gogo, Whirlpool, and Verizon Communications [3].
The recent amendments and leadership changes reflect LanzaTech Global's strategic intent to navigate its financial challenges. Despite the company's significant liquidity, as indicated by a current ratio of 2.17, it continues to face challenges with negative EBITDA of -$108.99 million [2]. The company's stock price has seen an 84.5% decline year-to-date, but it maintains a strong focus on sustainable innovation and carbon recycling technology.
LanzaTech Global's stock is currently trading at $0.21 with a market capitalization of $49.2 million [2]. The company's recent developments underscore its ongoing efforts to extend financing deadlines and secure necessary approvals to sustain its operations and growth initiatives.
References:
[1] https://www.tipranks.com/news/company-announcements/lanzatech-global-amends-loan-agreements-appoints-new-cao
[2] https://uk.investing.com/news/sec-filings/lanzatech-amends-stock-purchase-agreement-extends-financing-deadlines-93CH-4116440
[3] https://www.investing.com/news/sec-filings/lanzatech-announces-key-agreements-and-leadership-changes-93CH-4084705
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