Swisher Hygiene Amends Credit Facility With Wells Fargo Bank
Swisher Hygiene Inc., a provider of essential hygiene and sanitation products and services, announced that it has entered into a fourth amendment to its senior credit facility with Wells Fargo Bank as administrative agent.
The fourth amendment provides an extension for the delivery of Swisher Hygiene’s financial statements for the fiscal year ended December 31, 2011 and for the quarterly period ended March 31, 2012 until the earlier of the date on which the company delivers such financial statements to the SEC or June 30, 2012. At the same time, the fourth amendment waives any Default or Event of Default that may exist as a result of Swisher Hygiene not filing its Form 10-K for the year ended December 31, 2011 by April 16, 2012 and its Quarterly Report on Form 10-Q for the period ended March 31, 2012 by May 21, 2012 so long as Swisher Hygiene files the Form 10-K and Form 10-Q by June 30, 2012. Swisher Hygiene cannot provide assurance as to when it will complete the filings.
While Swisher Hygiene has no present intention to borrow any additional funds under the credit facility, until (1) Swisher Hygiene files the Form 10-K and Form 10-Q, (2) represents to Wells Fargo that its financial statements as filed may be relied upon, and (3) Wells Fargo consents to such reliance, Swisher Hygiene may not borrow additional funds under the credit facility with Wells Fargo.
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