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Marathon Asset Management Closes $40MM Funding for Theratechnologies

July 29, 2022, 07:31 AM
Filed Under: Biotechnology

Theratechnologies, a biopharmaceutical company focused on the development and commercialization of innovative therapies, received funding of $40 million under the terms of its credit agreement with affiliated funds of Marathon Asset Management.

This initial amount will be used to purchase $30 million of the principal amount of the convertible notes due June 2023 (the “Notes”). The purchase of the Notes is expected to occur on or about July 29, 2022.

On July 13, 2022, the Company announced that it entered into a binding commitment letter for a non-dilutive term loan of up to $100 million with affiliated funds of Marathon Asset Management. This credit facility is available to Theratechnologies in four various tranches with today’s first tranche of $40 million having been drawn down and funded.

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