TCDA - Tricida announces $125M debt facility

• Tricida ( NASDAQ: TCDA ) on Wednesday announced a $125M debt facility with Hercules Capital ( HTGC ).
• Of the total amount, $100M will be available for drawdown at Tricida's ( TCDA ) option subject to meeting certain targets.
• $25M will be available for drawdown till Dec. 31, subject to announcement of positive data from the VALOR-CKD trial.
• Additional $25M will be available for drawdown until the earlier of 10 business days after the filing of the NDA for veverimer and Sept. 15, 2023.
• Additional $50M will be available for drawdown until the earlier of 10 business days after the FDA approves veverimer and Feb. 15, 2024.
• Additional $25M may be available through Dec. 15, 2024, subject to approval of by Hercules Capital ( HTGC ).
• • Final maturity date for the debt facility is Nov. 1, 2025, which may be extended up to an additional two years.

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