scPharmaceuticals Announced Non-dilutive Financings Totaling Up To $125M From Perceptive Advisors
Portfolio Pulse from Benzinga Newsdesk
scPharmaceuticals announced non-dilutive financings totaling up to $125 million from Perceptive Advisors. The company received $75 million through a combination of debt and royalty financings at close, with access to an additional $50 million. The term loan refinances existing debt principal, lowers the coupon, extends the interest-only period for four additional years, and lowers the minimum cash requirement to $5 million.
August 12, 2024 | 10:08 am
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scPharmaceuticals has secured up to $125 million in non-dilutive financings from Perceptive Advisors, which includes $75 million received immediately and an additional $50 million available. The refinancing of existing debt lowers the coupon, extends the interest-only period by four years, and reduces the minimum cash requirement to $5 million.
The non-dilutive financings improve scPharmaceuticals' financial flexibility by refinancing existing debt, lowering the coupon, extending the interest-only period, and reducing the minimum cash requirement. This is likely to be viewed positively by investors, potentially leading to a short-term increase in SCPH's stock price.
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