ImmuCell Announces Bank Debt Refinancing

PORTLAND, Maine, Aug. 12, 2025 (GLOBE NEWSWIRE) -- ImmuCell Corporation (Nasdaq: ICCC) ("ImmuCell" or the "Company"), a growing animal health company that develops, manufactures and markets scientifically proven and practical products that improve the health and productivity of dairy and beef cattle, today announced it has successfully refinanced a portion of its bank debt.

Management's Discussion:

Proceeds from a new loan from Maine Community Bank (MCB) in the principal amount of $2,327,119, bearing interest at a fixed rate of 6.5% per annum, were used to pay off a loan with an outstanding balance of $1,525,852 from MCB that was bearing interest at a fixed rate of 7% per annum and a loan with an outstanding balance of $768,209 from the Finance Authority of Maine (FAME) that was bearing interest at a fixed rate of 8% per annum. The two loans that were paid off carried balloon principal payments aggregating approximately $1,946,000 due during the third quarter of 2026. The new loan has a five-year amortization schedule through the third quarter of 2030.

"This represents a continuance of our very productive relationship with MCB," commented Michael F. Brigham, President and CEO of ImmuCell. "We also appreciate the support from FAME for providing the smaller loan to us directly and also providing 50% loan insurance on the MCB loan when we needed it most during mid-2023. By paying off the FAME loan early, the funds can now be used by others in the State of Maine."

Conference Call:The Company is planning to host a conference call on Friday, August 15, 2025 at 9:00 AM ET to discuss the unaudited financial results for the quarter ended June 30, 2025. Interested parties can access the conference call by dialing (844) 855-9502 (toll free) or (412) 317-5499 (international). A teleconference replay of the call will be available until August 22, 2025 at (877) 344-7529 (toll free) or (412) 317-0088 (international), utilizing replay access code #5659118. Investors are encouraged to review the Company's updated Corporate Presentation slide deck that provides an overview of the Company's business and is available under the "Investors" tab of the Company's website at www.immucell.com, or by request to the Company. An updated version of the slide deck will be made available after the market closes on Thursday, August 14, 2025.

About ImmuCell:

ImmuCell Corporation's (NASDAQ:ICCC) purpose is to create scientifically proven and practical products ...