- scPharmaceuticals ( NYSEARCA: SCHP ) has entered into a binding term sheet with respect to a $100M secured debt facility with funds managed by Oaktree Capital Management.
- The potential transaction is subject to the parties’ execution of definitive agreements and customary closing conditions to be stipulated therein.
- Definitive agreements are expected to be signed by mid-October.
- Coompany plans to use these available funds, together with cash on-hand, to repay indebtedness under its existing loan and security agreement and to execute on the launch of FUROSCIX, which received marketing approval from the U.S. FDA on October 7, 2022.
For further details see:
scPharmaceuticals to avail $100M debt facility