Outset Medical, Inc. (OM): debt financing — Outset Medical borrows $33.5M under amended SLR term loan; total debt ~$133.5M

Outset Medical, Inc.

On Dec 11, 2023, Outset amended its SLR term loan, restructuring the $100M Term B into two tranches: B-1 ($33.5M) and B-2 ($66.5M).
Outset borrowed the full Term B-1 tranche on the amendment date, increasing outstanding principal to ~$133.5M.
The Term A loan of $100M was drawn in Nov 2022; Term B-2 remains available subject to conditions.
No other material terms of the SLR term loan were changed by the amendment.

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

Outset Medical, Inc. incurred term loan of $100.0 million Term B Loans will be available in two tranches consisting of (i) Term B-1 Loans in the aggregate amount o with SLR Investment Corp., as collateral agent, the lenders from time to time party thereto.

Instrument: term loan
Principal: $100.0 million Term B Loans will be available in two tranches consisting of (i) Term B-1 Loans in the aggregate amount o
Counterparty: SLR Investment Corp., as collateral agent, the lenders from time to time party thereto
Event: incurrence

Exact text from the filing

The SLR Term Loan Amendment provides that the $100.0 million Term B Loans will be available in two tranches consisting of (i) Term B-1 Loans in the aggregate amount of approximately $33.5 million and (ii) Term B-2 Loans in the aggregate amount of approximately $66.5 million.

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

Outset Medical, Inc. incurred term loan of Term B-1 Loans in the aggregate amount of approximately $33.5 million with SLR Investment Corp., as collateral agent, the lenders from time to time party thereto.

Instrument: term loan
Principal: Term B-1 Loans in the aggregate amount of approximately $33.5 million
Counterparty: SLR Investment Corp., as collateral agent, the lenders from time to time party thereto
Event: incurrence

Exact text from the filing

the Company borrowed and received the entire Term B-1 Loans from the Term Loan Lenders.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

Outset Medical, Inc. amended First Amendment to Loan and Security Agreement with SLR Investment Corp. valued at Amendment provides for $100.0 million Term B Loans in two tranches (B-1 ~$33.5M, B-2 ~$66.5M); borro (effective 2023-12-11).

Action: amendment
Agreement: credit facility
Counterparty: SLR Investment Corp.
Value: Amendment provides for $100.0 million Term B Loans in two tranches (B-1 ~$33.5M, B-2 ~$66.5M); borro
Effective: 2023-12-11

Exact text from the filing

On December 11, 2023 (the Amendment Effective Date), the Company amended the SLR Term Loan Facility pursuant to a First Amendment to Loan and Security Agreement (the SLR Term Loan Amendment) among the Collateral Agent, the Term Loan Lenders and the Company.

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102 debt financings filed in the last 30 days. Browse all debt financings →

Outset Medical, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-069380

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