BridgeBio Pharma nabs $750M in non-dilutive debt financing
BridgeBio Pharma executed a definitive credit facility agreement with a syndicate of lenders for up to $750M in financing which replaces its $100M debt facility with Hercules.
Of the total, $450M was funded on Nov.17 while additional $300M will be funded at company's option; it has maturity date of Nov.17, 2026 and interest only period is for three years which can be extended to four years.
This financing is expected to fully fund BridgeBio's portfolio of 30+ drug development and discovery programs into 2024, independent of near-term milestone readouts.
The facility along with its existing cash balance as of Sep. 30, 2021, provides access to $1.2B+ for advancing the company's pipeline programs, support commercialization efforts, and enable it to pursue strategic business development opportunities.
This financing announcement follows the company's repurchase of ~$150M in its own common stock under its 2021 Share Repurchase Program.
Nov. 18, 2021
https://seekingalpha.com/
Of the total, $450M was funded on Nov.17 while additional $300M will be funded at company's option; it has maturity date of Nov.17, 2026 and interest only period is for three years which can be extended to four years.
This financing is expected to fully fund BridgeBio's portfolio of 30+ drug development and discovery programs into 2024, independent of near-term milestone readouts.
The facility along with its existing cash balance as of Sep. 30, 2021, provides access to $1.2B+ for advancing the company's pipeline programs, support commercialization efforts, and enable it to pursue strategic business development opportunities.
This financing announcement follows the company's repurchase of ~$150M in its own common stock under its 2021 Share Repurchase Program.
Nov. 18, 2021
https://seekingalpha.com/
