EOLS - Evolus enters into $125M credit facility with Pharmakon Advisors

Evolus (EOLS +1.9%) has announced that it has entered into a $125M term loan financing facility in two tranches with funds managed by Pharmakon Advisors. Under the terms, the proceeds will be used for general corporate purposes and working capital and may also be used for potential strategic transactions. Also $75M will be drawn upon execution, Evolus may draw up to an additional $50M before Dec. 31, 2022. This second tranche is available with no additional performance obligations or financial covenants. “Supported by our unique business strategy and focus on the fast-growing millennial demographic, Evolus is continuing to gain market share in the aesthetic neurotoxin industry,” said David Moatazedi, Evolus’ President and CEO.

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Evolus enters into $125M credit facility with Pharmakon Advisors