BIODESIX INC (BDSX): debt financing — Biodesix raises $70.7M via $50M term loan and $40.3M equity; retires $24M in debt

BIODESIX INC

Entered $50M Perceptive term loan; $30M drawn at close, two $10M tranches available on revenue milestones.
Priced public offering of 35.075M shares at $1.15; gross proceeds $40.3M; net ~$37.5M.
Used $24M of net proceeds to repay Streeterville note ($18.2M) and SVB term loan ($5.8M).
Loan is interest-only for 5 years at SOFR (floor 3%) + 9%; matures Nov 2027; warrants for up to 5M shares at $1.0648.
Management purchased 278,514 shares at $1.15 in a private placement; lock-up 90 days.

item 1.01 item 1.02 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

BIODESIX INC incurred term loan of $30.0 million with Perceptive Credit Holdings IV, LP at greater of forward-looking one-month term SOFR and 3.0% per annum, plus an appli maturing November 21, 2027.

Instrument: term loan
Principal: $30.0 million
Counterparty: Perceptive Credit Holdings IV, LP
Rate: greater of forward-looking one-month term SOFR and 3.0% per annum, plus an appli
Maturity: November 21, 2027
Event: incurrence

Exact text from the filing

On November 16, 2022 (the Closing Date), the Company entered into a Credit Agreement and Guaranty (the Credit Agreement) with Perceptive Credit Holdings IV, LP as the lender and administrative agent (the Lender). The Credit Agreement provides for a senior secured delayed draw term loan facility with Perceptive Advisors LLC (Perceptive), in an aggregate principal amount of up to $50.0 million (the Perceptive Term Loan Facility). The initial funding of the Perceptive Term Loan Facility was subject to a capital raise of at least $30.0 million in gross proceeds from an equity offering of the Company's common stock.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BIODESIX INC terminated 2021 Term Loan with Silicon Valley Bank valued at $3 million (effective 2022-11-21).

Action: termination
Agreement: credit facility
Counterparty: Silicon Valley Bank
Value: $3 million
Effective: 2022-11-21

Exact text from the filing

and the outstanding principal balance of $3 million under the term loan under the Loan and Security Agreement with Silicon Valley Bank (the 2021 Term Loan)

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BIODESIX INC terminated Promissory Note One with Streeterville Capital, LLC valued at $16.0 million (effective 2022-11-21).

Action: termination
Agreement: credit facility
Counterparty: Streeterville Capital, LLC
Value: $16.0 million
Effective: 2022-11-21

Exact text from the filing

the Company fully repaid all outstanding principal, accrued and unpaid interest as well as any prepayment and other fees due under the existing $16.0 million promissory note with Streeterville Capital, LLC (Promissory Note One)

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BIODESIX INC entered into Credit Agreement and Guaranty with Perceptive Credit Holdings IV, LP valued at up to $50.0 million (effective 2022-11-16).

Action: entry
Agreement: credit facility
Counterparty: Perceptive Credit Holdings IV, LP
Value: up to $50.0 million
Effective: 2022-11-16

Exact text from the filing

On November 16, 2022 (the Closing Date), the Company entered into a Credit Agreement and Guaranty (the Credit Agreement) with Perceptive Credit Holdings IV, LP as the lender and administrative agent (the Lender).

View on SEC.gov

Browse all debt financings →

BIODESIX INC filing history →

Source: SEC EDGAR

accession 0000950170-22-025530

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.