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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Perceptive Advisors Provides Up to $50MM Term Loan Facility to Biodesix
Monday, November 21, 2022
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Lenders/Participants
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Perceptive Advisors [Lender]
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Structure
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Term Loan
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Amount
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$50.000
Million
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Borrower(s)
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Biodesix, Inc.
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Description
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Term loan facility for up to $50 million from Perceptive Advisors. This debt capital, which is conditioned on the Company raising at least $30 million in gross proceeds through sale of its equity securities, is part of a strategic fundraising effort to strengthen the Company’s balance sheet, reduce near term cash use and enable the continued growth trajectory of the core lung diagnostics business. The proceeds from this debt offering will be used for repayment of existing debt facilities, working capital, and general corporate purposes, including expansion of the commercialization activities for the Company’s five Medicare reimbursed lung diagnostic tests. Under the terms of the agreement, Biodesix will receive an initial $30 million funding, subject to closing conditions, including the equity issuance noted above. An additional $20 million will be available in two separate $10 million tranches under the same terms and collateral, subject to certain timelines and other defined criteria that will be subject to the lender’s approval. The credit facility is interest only for the term of the facility, which is five years from the initial funding date. The term loan bears interest at a per annum rate equal to the greater of the forward looking one-month SOFR and 3.00% per annum, plus an applicable margin of 9.00%, payable monthly in arrears. The term loan is secured by a first lien on all Company assets.
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Industry
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Medical
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| Related Tags |
Perceptive Advisors
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ABL Advisor
Deal Tables
2025
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