ImmuCell Corporation (NASDAQ:ICCC) Q3 2022 Earnings Call Transcript

Unidentified Analyst: Hi, Michael. Thanks for all your hard work. I really appreciate that. My question is towards this rising interest rate environment. Could you opine on how the company is positioned going into this higher rate?

Michael Brigham: Yeah. I think this is a good place to bang a little bit. We — I really like our debt structure. Just before interest rates started going up, we were able to lock everything in and we are at a blended rate of about 3.56%. So most of our debt is right around 3.5%, we do have a couple of stated main loans at 5%, again blended rate 3.56% and it’s fixed. So I think we are in …

Unidentified Analyst: And what’s the duration on that apart from Macquarie?

Michael Brigham: Yeah. I mean there’s four different instruments and they have different — between mortgage and equipment different maturities. But I am going to grab a footnote 10 and kind of refer you to the details there. But on page 13, 14 of the Q, we give the maturity schedule and the breakdown of the different instruments precisely.

Unidentified Analyst: Perfect. All right. Great. All right. Thank you very much.

Michael Brigham: Yeah. Thanks, Charles. Appreciate it.

Operator: Ladies and gentlemen, this concludes our question-and-answer session. I would like to turn the conference back over to Joe Diaz for any closing remarks.

Joe Diaz: Thank you, Chad. And again, thanks to all of you for participating in today’s call. We look forward to talking with you again to review the results for fiscal year 2022 during the latter part of February 2023. I hope you have a great holiday season everyone. Thank you. Have a great day.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.