Amicus Therapeutics And Blackstone Enter Into $430M Strategic Financing Collaboration; Blackstone To Also Purchase $30M Of Amicus Common Stock
Portfolio Pulse from Benzinga Newsdesk
Amicus Therapeutics (NASDAQ:FOLD) has entered into a $430 million financing collaboration with Blackstone (NYSE:BX). The deal includes a $400 million senior secured term loan and a $30 million strategic investment in Amicus's common stock. The funds will be used to refinance Amicus's existing debt and fund ongoing operations. The loan is expected to be funded and the equity investment is expected to close on October 5, 2023.
October 02, 2023 | 12:22 pm
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POSITIVE IMPACT
Amicus Therapeutics has secured a $430 million financing collaboration with Blackstone, which will help refinance its existing debt and fund ongoing operations.
The financing collaboration with Blackstone will significantly strengthen Amicus's financial position by reducing its interest rate and extending the amortization period. This could lead to increased investor confidence and a potential rise in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Blackstone has entered into a $430 million financing collaboration with Amicus Therapeutics, including a $400 million loan and a $30 million investment in Amicus's common stock.
While this deal represents a significant investment for Blackstone, it is part of their broader investment strategy and is unlikely to have a significant impact on their stock price in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80