Theratechnologies secures up to $75M in new credit facilities

TipRanks

Tue, Dec 3, 2024, 5:47 AM 1 min read

Theratechnologies (THTX) announced that it has closed on a $40 million three-year non-dilutive, senior secured syndicated financing with TD Bank, as agent. The new credit facilities include a $20 million accordion feature, which could expand total commitments up to $60 million. Investissement Quebec, the Company’s largest shareholder, has also agreed to provide a $15 million second ranking secured subordinated term loan. Net proceeds from the new loans together with cash on hand will be used to repay all obligations including prepayment penalties under the Company’s existing facility with affiliates of Marathon Asset Management, pursuant to the credit agreement entered into with Marathon in July 2022, and to fund business development activities.