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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Evolus Enters $125MM Refinance Facility with Funds Managed by Pharmakon Advisors
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Lenders/Participants
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Pharmakon Advisors LP [Lender]
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Structure
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Credit Facility
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Amount
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$125.000
Million
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Borrower(s)
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Evolus, Inc.
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Description
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An amended and restated credit facility, replacing its existing $125 million credit agreement with a new $250 million credit facility with funds managed by Pharmakon Advisors, LP. Highlights of the new facility include:Lowered Interest Rate: Reduced borrowing cost by 350 basis points (bps) based on current interest rates. The facility will mature five years from the funding date. Interest will be paid quarterly using the 3-month SOFR plus 5.00% per annum; Improved Structure & Financial Flexibility: Converted from an amortizing structure to a bullet maturity payment, with significantly reduced pre-payment fees, avoided any pre-payment fees from the existing facility, and additional consideration of 1% of the drawn value for the new facility, making it a cost-effective agreement; Increased Capital Availability: Added $100 Million of discretionary incremental capacity with a senior secured term loan of up to $250 million in three tranches, with $150 million being drawn upon the execution of the agreement. At its discretion, Evolus may draw up to two additional tranches of $50 million each through December 31, 2026. These second and third tranches are available with no additional performance conditions or financial covenants.
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Industry
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Specialty Industries
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Location
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CA
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| Related Tags |
Evolus, Pharmakon Advisors
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ABL Advisor
Deal Tables
2025
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