Omeros Entered Into Credit And Guaranty Agreement to Provide Senior Secured Term Loan Facility Initially Up To $92.1M
$OMER
Biotechnology: Pharmaceutical Preparations
Health Care
- $118.1 million, or 55%, of outstanding convertible notes due in 2026 repurchased at approximately 75% of notional value, resulting in $51 million in total debt extinguishment
- Repurchase funded from new $67 million secured four-year term loan maturing in June 2028 together with $21 million cash on hand
- Credit facility includes $25 million delayed draw term loan conditionally available to fund narsoplimab commercialization
- Transactions include no equity component, preventing shareholder dilution, and enable additional debt reduction