Pulmonx Announces Closing of up to $60 Million Credit Facility
REDWOOD CITY, Calif., March 04, 2026 (GLOBE NEWSWIRE) -- Pulmonx Corporation (NASDAQ:LUNG) (the "Company" or "Pulmonx"), a global leader in minimally invasive treatments for lung disease, today announced the closing of a five-year credit facility for up to $60 million with Perceptive Advisors.
The credit facility consists of an initial $40 million term loan drawn at closing to refinance the Company's existing debt, and an option to draw an additional $20 million in unfunded capital through the end of 2027, subject to the achievement of certain revenue milestones. The new facility is interest only until maturity in 2031, and bears interest at a rate equal to one-month Term SOFR (subject to a 3.75% floor) plus 7.0%, 2.0% of which may be "paid-in-kind" at the Company's option for a period of three years following the closing date.
"This new debt facility immediately strengthens our capital structure," said Glen French, President and Chief Executive Officer of Pulmonx. "By extending our debt maturity to 2031 with favorable terms, we can shift our focus toward executing our commercial strategy and advancing our key clinical programs to deliver our life-changing treatment to patients with severe emphysema."
"The Pulmonx Zephyr Valve is a market-leading product backed by robust clinical evidence, global guideline endorsement, and broad reimbursement that fulfills a significant unmet need for severe emphysema patients who often have no other treatment options," said Sam Chawla, Portfolio Manager at Perceptive Advisors. "This financing reflects our confidence in management's ability to reposition the company for profitable and sustainable growth."
Further details regarding the new credit agreement are included in the Company's Form 8-K filed with the U.S. Securities and Exchange Commission on March 4, 2026.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on management's current assumptions and expectations of future events and trends, which affect or may affect our strategy, operations or financial performance, and actual results may differ materially from those expressed or implied in such statements due to numerous risks and uncertainties. These forward-looking statements include, but are not limited to, statements about the Company's expectations regarding the credit facility, including its impact on the Company's business and financial position, and the Company's ability to execute its commercial strategy and advance its key clinical programs. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Factors that could cause actual results to differ materially from those contemplated in this press release can be found in the Risk Factors section of Pulmonx's public filings with the Securities and Exchange Commission ("SEC"), including our Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025, filed with the SEC on November 12, 2025, available at www.sec.gov. Because forward-looking statements are inherently subject to risks and uncertainties, you should not rely on these forward-looking statements as predictions of future events. All statements other than statements of historical fact are forward-looking statements. Except to the extent required by law, we undertake no obligation to update or review any estimate, projection, or forward-looking statement. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in our business.
About Pulmonx Corporation
Pulmonx Corporation (NASDAQ:LUNG) is a global leader in minimally invasive treatments for chronic obstructive pulmonary disease (COPD). Pulmonx's Zephyr® Endobronchial Valve, Chartis® Pulmonary Assessment System, LungTraXTM Platform, and StratX® Lung Analysis Reports are designed to assess and treat patients with severe emphysema/COPD who despite medical management are still profoundly symptomatic. Pulmonx received FDA pre-market approval to commercialize the Zephyr Valve following its designation as a "breakthrough device." The Zephyr Valve is commercially available in more than 25 countries, is included in global treatment guidelines and is widely considered a standard of care treatment option for improving breathing, activity and quality of life in patients with severe emphysema. For more information on the Zephyr Valves and the company, please visit www.pulmonx.com.
Pulmonx®, Chartis®, StratX®, and Zephyr® are registered trademarks and LungTraXTM is a trademark of Pulmonx Corporation.
About Perceptive Advisors
Founded in 1999, Perceptive Advisors focuses on supporting progress in the life sciences industry by identifying opportunities and directing financial resources toward the most promising technologies in modern healthcare. Today, the firm manages approximately $8 billion across its strategies. For more information about Perceptive, visit www.perceptivelife.com.
Investor Contact
Brian Johnston
Laine Morgan
Gilmartin Group
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