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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Hercules Capital Provides Up to $250MM Term Loan to Arcus Biosciences
Wednesday, August 28, 2024
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Lenders/Participants
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Hercules Capital, Inc. [Lender]
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Structure
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Term Loan
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Amount
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$250.000
Million
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Borrower(s)
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Arcus Biosciences
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Description
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Under the terms of the term loan facility, $50 million was drawn at closing and an additional $100 million is committed and fully available at Arcus’s sole option in minimum increments of $25 million. A second tranche of $100 million will be available to support strategic initiatives, subject to future approval by Hercules. The term loan matures in five years and maturity is extendable to six years upon the initiation of Phase 3 trials for casdatifan and quemliclustat. The facility provides for an interest-only period of four years, which is extendable to five years based on the achievement of certain regulatory milestones. The loan facility is secured by substantially all the company’s assets, excluding those covered by its existing collaboration agreements.
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Industry
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Biotechnology
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Location
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CA
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| Related Tags |
Hercules Capital
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ABL Advisor
Deal Tables
2025
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