Axsome Therapeutics, Inc. (AXSM): debt financing — Axsome enters $570M credit facility with Blackstone, retires Hercules loan

Axsome Therapeutics, Inc.

New $570M facility includes a $500M term loan (SOFR+4.75%) and a $70M revolver (SOFR+4.00%).
Initially drew $120M to repay existing Hercules term loan; up to $250M additional draws available at company's option.
Facility matures May 2030; 60-month interest-only period; expects significant reduction in interest expense.
Blackstone also purchased $15M of common stock at $107.14 per share in a concurrent private placement.
Company cites improved cost of capital and expanded credit capacity to support CNS pipeline growth.

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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

Axsome Therapeutics, Inc. incurred credit facility of aggregate principal amount of up to $570.0 million with Blackstone Alternative Credit Advisors LP and Blackstone Life Sciences Advisors L.L.C. at Term SOFR adjusted secured overnight financing rate plus a margin of 4.75% maturing five years from the Closing Date.

Instrument: credit facility
Principal: aggregate principal amount of up to $570.0 million
Counterparty: Blackstone Alternative Credit Advisors LP and Blackstone Life Sciences Advisors L.L.C.
Rate: Term SOFR adjusted secured overnight financing rate plus a margin of 4.75%
Maturity: five years from the Closing Date
Event: incurrence

Exact text from the filing

The Loan Agreement provides for loans in an aggregate principal amount of up to $570.0 million, consisting of (i) a first lien senior secured term loan in an aggregate principal amount of $120.0 million funded to the Company on the Closing Date, (ii) a $180.0 million senior secured term loan which is available to the Company at the Company’s option

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Axsome Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-25-069785

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