BIODESIX INC (BDSX): debt financing — Biodesix draws $10M Tranche B loan from Perceptive; issues 1M-share warrants

BIODESIX INC

Drew $10M Tranche B under existing $50M Perceptive term loan facility on Dec 15, 2023.
Interest rate is greater of 1-month term SOFR or 3% plus 9.0% margin; maturity Nov 21, 2027.
Issued Tranche B Warrants for 1,000,000 shares at $1.0648 per share, expiring Dec 15, 2033.
Facility is secured by first lien on substantially all assets; must maintain $2.5M minimum cash and revenue milestones.
Tranche C of up to $10M remains available subject to conditions; no other material changes.

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 $10.0 million with Perceptive Credit Holdings IV, LP at greater of (a) forward-looking one-month term SOFR as posted by CME Group Inc. a maturing November 21, 2027.

Instrument: term loan
Principal: $10.0 million
Counterparty: Perceptive Credit Holdings IV, LP
Rate: greater of (a) forward-looking one-month term SOFR as posted by CME Group Inc. a
Maturity: November 21, 2027
Event: incurrence

Exact text from the filing

On December 15, 2023, the Company exercised its ability to draw the Tranche B loan for $10.0 million (the Tranche B Loan) pursuant to the Credit Agreement and Guaranty (the Credit Agreement) with Perceptive Credit Holdings IV, LP as the lender and administrative agent (the Lender), executed on November 16, 2022.

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BIODESIX INC filing history →

Source: SEC EDGAR

accession 0000950170-23-071761

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