secwatch.observer — SEC 8-K summary
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Issuer:     Oncology Institute, Inc. (TOI)
CIK:        0001799191
Form:       8-K
Filed at:   2026-07-07T21:00:11+00:00
Accession:  0001079973-26-000934
Event type: debt
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1799191/000107997326000934/0001079973-26-000934-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1799191/000107997326000934/toi_8k.htm
  HTML page:      https://secwatch.observer/filing/0001079973-26-000934

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer