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Kewaunee Scientific Announces Successful Debt Refinancing and Full Repayment of Seller Notes From the Company's Acquisition of Nu Aire, Inc.
Kewaunee Scientific Corporation (NASDAQ: KEQU), a recognized leader in the design, manufacture, and installation of laboratory, healthcare, and technical furniture products, today announced its successful debt refinancing and the full repayment of its Seller Notes.
About this update from Kewaunee Scientific Corporation
[{"type":"text","content":"STATESVILLE, N.C., Dec. 4, 2025 /PRNewswire/ -- Kewaunee Scientific Corporation (NASDAQ: KEQU), a recognized leader in the design, manufacture, and installation of laboratory, healthcare, and technical furniture products, today announced its successful debt refinancing and the full repayment of its Seller Notes.","length":313,"tagName":"p"},{"type":"image","alt":"Kewaunee Scientific Corporation (PRNewsFoto/Kewaunee Scientific Corporation)","displaySize":"","headline":null,"caption":"Kewaunee Scientific Corporation (PRNewsFoto/Kewaunee Scientific Corporation)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":310,"url":"https://media.zenfs.com/en/prnewswire.com/98854ca88d1eb37bddbcf2c5f6b6285d"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/Z8pgi6DARlTAWbCFDrXnnw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTU0NjtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/98854ca88d1eb37bddbcf2c5f6b6285d","width":400,"height":310}},"href":"https://mma.prnewswire.com/media/338700/Kewaunee_Scientific_v1_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"On December 4, 2025, Kewaunee Scientific Corporation (the "Company" or "Kewaunee") successfully repaid in full and ahead of schedule its Seller Notes, entered into November 1, 2024, in connection with the Company's acquisition of Nu Aire, Inc. ("Nu Aire"). The Seller Notes had an original outstanding principal balance of $23.0 million and were set to mature on November 1, 2027. This repayment was partially funded by an amendment the Company entered into with PNC Bank, National Association ("PNC") on December 4, 2025, related to the Loan Agreement, dated November 1, 2024, between the Company and PNC. This amendment, among other things, (i) permitted the Company to repay in full the outstanding principal balances of the Seller Notes, (ii) provided for an additional $10.0 million term loan to be used to partially fund the repayment of the Seller Notes, and (iii) permitted the Company to draw and use available funds under its active revolving line of credit established by the November 1, 2024 Loan Agreement to partially fund the repayment of the Seller Notes.","length":1115,"tagName":"p"},{"type":"text","content":"With the successful execution of these transactions, the Company has lowered its over...