- Outset Medical ( NASDAQ: OM ) has entered into two senior secured credit facilities with investment affiliates managed by SLR Capital Partners which collectively provide for borrowings of up to $300M, comprising up to a $250M term loan facility and up to a $50M asset-based revolving credit facility.
- The term loan facility includes a committed $200M that may be increased to $250M and the asset-based revolving credit facility includes a committed $25M that may be increased to $50M, with any increase subject to certain milestones and SLR credit approval.
- The maturity date of the credit facilities is November 1, 2027.
- The annual interest rate is equal to one-month term SOFR (subject to a floor of 2.75%), plus (1) 5.15% under the term loan facility and (2) 3.20% under the asset-based revolving credit facility.
For further details see:
Outset Medical gets up to $300M in debt financing