XERS - Xeris Biopharma receives $150M in senior secured term loan facility with Hayfin Capital

Xeris Biopharma (NASDAQ:XERS) entered into a senior secured term loan agreement with funds managed by Hayfin Capital Management for providing the company with up to a total of $150M of capital. "Together with the recent equity financing, which closed in January, Xeris has now added ~$80M of cash to the greater than $102M of cash and investments already on our balance sheet at year-end 2021," CFO Steven Pieper commented. Under debt facility terms, Xeris drew down $100M on the closing date to repay its existing term loan of $43.5M with Oxford Finance and Silicon Valley Bank, and the net proceeds will provide additional working capital to fund the company's business plan. An additional $50M of the debt facility is available during the 12-month period following the closing date, which may be drawn by Xeris in up to three draws of no less than $10M each. The maturity of the debt facility

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Xeris Biopharma receives $150M in senior secured term loan facility with Hayfin Capital