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home / news releases / deerfield management to invest 110m in the oncology

TOI - Deerfield Management to invest $110M in The Oncology Institute

The Oncology Institute Inc.

  • Investment funds affiliated with Deerfield Management will invest $110M in The Oncology Institute ( NASDAQ: TOI ), the cancer-care community group said on Tuesday.
  • As per the deal, TOI has agreed to issue Deerfield $110M aggregate principal amount of 4% secured senior convertible notes.
  • TOI said the convertible notes have an initial conversion price of $8.567, which represents a 30% premium to TOI's closing price on Monday.
  • "This investment will provide TOI with important growth capital to accelerate our expansion into new markets with our differentiated value-based approach to oncology," said TOI CEO Brad Hively.
  • The Oncology Institute ( TOI ) separately announced Q2 results . The company swung to a Q2 loss per share from profit last year. It also kept its FY 2022 revenue guidance unchanged at $270M to $310M.
  • Shares of TOI gained 8.6% to $7.20 in after hours.

For further details see:

Deerfield Management to invest $110M in The Oncology Institute
Stock Information
Company Name: The Oncology Institute Inc.
Stock Symbol: TOI
Market: NASDAQ
Website: theoncologyinstitute.com
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