Unipharma obtains access to $5.4 million of DIP financing package

By Sarah Lizee

Olympia, Wash., Dec. 14 – Unipharma, LLC received interim approval to access up to $5.4 million of a proposed $15.6 million in post-petition financing, according to an order filed Friday with the U.S. Bankruptcy Court for the Southern District of Florida.

The interim amount includes a $1.3 million roll-up, as previously reported.

The total amount of the facility is subject to up to $2 million of commitment increases at the DIP lender’s option.

Unipharma will be the borrower, with affiliate Tamarac 10200, LLC as the guarantor.

Borrowings will bear interest at 10% per year, subject to a default rate of 12% per year.

The facility will mature 120 days after the petition date at the latest.

The debtors also received interim access to the cash collateral of pre-bankruptcy lender NHTV ULM Holdings LLC.

Unipharma is a Tamarac, Fla., health care packaging company serving the pharmaceutical and nutraceutical sectors in the development, manufacturing and packaging of liquid, disposable and single-dose units. The company filed bankruptcy on Dec. 7 under Chapter 11 case number 20-23348.

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