TOI secures $75M OrbiMed term loan, repays $86M Deerfield convertible note

Oncology Institute, Inc.

$75M term loan from OrbiMed, matures 2031, interest at SOFR+5.75% (floor 3%).
Repaid $86M Deerfield 4% senior secured convertible note using loan and ~$11M cash.
Issued warrants for 10,025,535 shares at $8.567 to Deerfield as part of repayment.
No new equity raised; transaction improves liquidity and extends debt maturities.
Covenant requires minimum net revenue of $700M for trailing 12 months starting Dec 2027.

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