---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-053882"
form_type: "8-K"
ticker: "RCEL"
cik: "0001762303"
company_name: "AVITA Medical, Inc."
filed_at: "2023-10-18T23:59:59+00:00"
generated_at: "2026-06-09T21:54:38.608602+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# AVITA Medical secures $90M debt facility from OrbiMed; prelim Q3 revenue $13.5M (+50% YoY)

## Summary
- Preliminary Q3 commercial revenue $13.5M, +50% YoY from ~$9.0M; gross margin ~84.5%.
- Full-year 2023 revenue guidance unchanged at $51-53M.
- $40M funded at close; up to $50M more available in two tranches based on revenue thresholds.
- Five-year term matures Oct 2028; OrbiMed gets warrant for 409,661 shares at $10.9847.
- Management expects financing to fund growth and support reaching profitability during 2025.

## SEC filing metadata
- accession: 0000950170-23-053882
- form_type: 8-K
- ticker: RCEL
- cik: 0001762303
- company_name: AVITA Medical, Inc.
- filed_at: 2023-10-18T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1762303/000095017023053882/0000950170-23-053882-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1762303/000095017023053882/rcel-20231018.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-053882
- JSON: https://secwatch.observer/filing/0000950170-23-053882.json
- Plain text: https://secwatch.observer/filing/0000950170-23-053882.txt

## Key facts
- Debt Financings
  AVITA Medical, Inc. incurred credit facility of up to $90 million with an affiliate of OrbiMed at the greater of (x) the SOFR rate for such period and (y) 4.00% plus, in either c maturing five years.
  - Instrument: credit facility
  - Principal: up to $90 million
  - Counterparty: an affiliate of OrbiMed
  - Rate: the greater of (x) the SOFR rate for such period and (y) 4.00% plus, in either c
  - Maturity: five years
  - Event: incurrence
  source text: The Credit Agreement provides for a five-year senior secured credit facility in an aggregate principal amount of up to $90 million (the “Loan Facility"), of which (i) $40 million was made available on the Closing Date (the “Initial Commitment Amount")
  evidence_url: https://www.sec.gov/Archives/edgar/data/1762303/000095017023053882/0000950170-23-053882-index.htm
- Earnings Releases
  AVITA Medical, Inc. reported the quarter ended September 30, 2023 results: revenue $13.5 million. Guidance reaffirmed.
  - Period: the quarter ended September 30, 2023
  - Revenue: $13.5 million
  - Guidance: reaffirmed
  - Result: preliminary results
  source text: preliminary commercial revenue was $13.5 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1762303/000095017023053882/0000950170-23-053882-index.htm
- Material Agreements
  AVITA Medical, Inc. entered into Credit Agreement with an affiliate of OrbiMed valued at up to $90 million (effective 2023-10-18).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: an affiliate of OrbiMed
  - Value: up to $90 million
  - Effective: 2023-10-18
  source text: AVITA Medical, Inc. (the “Company”) entered into a Credit Agreement (the “Credit Agreement”), by and between the Company, as borrower, and an affiliate of OrbiMed as the lender and administrative agent (the “Lender”). The Credit Agreement provides for a five-year senior secured credit facility in an aggregate principal amount of up to $90 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1762303/000095017023053882/0000950170-23-053882-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.