Perimeter Solutions Plans to Offer $550M Senior Secured Notes

Perimeter Solutions announced that its indirect subsidiary, Perimeter Holdings, intends to offer, subject to market and other conditions, $550M aggregate principal amount of senior secured notes due 2034. The Notes will be fully and unconditionally guaranteed on a senior secured basis, jointly and severally, by Perimeter Intermediate, the direct parent of Perimeter Holdings, and, subject to certain exclusions, all of Perimeter Holdings' existing or future restricted subsidiaries that guarantee Perimeter Holdings' revolving credit facility. The Notes will be secured, subject to permitted liens, by a first-priority security interest in substantially all present and hereafter acquired property and assets of Perimeter Holdings and the guarantors, which also constitutes collateral securing indebtedness under Perimeter Holdings' revolving credit facility. Perimeter Holdings intends to use the net proceeds from the offering, together with cash on hand, to pay the cash consideration for the previously announced acquisition of Medical Manufacturing Technologies and to pay related fees and expenses. In the event that the acquisition of MMT is not consummated on or prior to September 9, 2026, Perimeter Holdings notifies the trustee of the Notes that it will not pursue the acquisition of MMT or Perimeter Holdings terminates the MMT purchase agreement without consummating the acquisition of MMT, Perimeter Holdings will be obligated to redeem the Notes. Prior to the closing of the Notes offering, Perimeter Holdings expects to amend and restate its existing revolving credit facility to, among other things, increase the aggregate principal amount to up to $200M and extend the maturity date.