HYPERION DEFI, INC. (HYPD): debt financing — Eyenovia enters $15M credit facility with Avenue Venture Debt; $10M funded at close

HYPERION DEFI, INC.

$15M facility: $10M funded at close ($9.5M net); $5M contingent on MydCombi FDA approval by Aug 2023.
Interest: prime + 4.45% (floor 7%), maturity Nov 1, 2025; interest-only 12 months then amortizing.
Collateralized by substantially all assets; prepayment fee 3%/2%/1% depending on year of prepayment.
Issued 547,807 shares of common stock to lenders under subscription agreement.
Pro-forma cash ~$25.5M; funds operations through late 2023/early 2024 including potential MydCombi launch.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

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

HYPERION DEFI, INC. incurred term loan of up to $15.0 million with Avenue Venture Opportunities Fund II, L.P. and Avenue Venture Opportunities Fund, L.P. at greater of (a) the sum of 4.45% and the prime rate as reported in The Wall Stree maturing November 1, 2025.

Instrument: term loan
Principal: up to $15.0 million
Counterparty: Avenue Venture Opportunities Fund II, L.P. and Avenue Venture Opportunities Fund, L.P.
Rate: greater of (a) the sum of 4.45% and the prime rate as reported in The Wall Stree
Maturity: November 1, 2025
Event: incurrence

Exact text from the filing

Amount . The Loan and Security Agreement provides for term loans in an aggregate principal amount of up to $15.0 million to be delivered in multiple tranches (the “Term Loans”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

HYPERION DEFI, INC. entered into Subscription Agreement with the Lenders (Avenue Venture Opportunities Fund II, L.P. and Avenue Venture Opportunities Fund, L.P.) (effective 2022-11-22).

Action: entry
Agreement: equity purchase
Counterparty: the Lenders (Avenue Venture Opportunities Fund II, L.P. and Avenue Venture Opportunities Fund, L.P.)
Effective: 2022-11-22

Exact text from the filing

In connection with the entry into the Loan and Security Agreement, the Company entered into a Subscription Agreement by and among the Company and the Lenders, pursuant to which the Company issued (i) 219,123 shares of Common Stock to Avenue 1 and (ii) 328,684 shares of Common Stock to Avenue 2, with an issue date as of the Closing Date.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

HYPERION DEFI, INC. entered into Loan and Security Agreement with Avenue Capital Management II, L.P., as administrative agent and collateral agent, Avenue Venture Opportunities Fund II, L.P., as a lender, and Avenue Venture Opportunities Fund, L.P., as a lender valued at $15.0 million (effective 2022-11-22).

Action: entry
Agreement: credit facility
Counterparty: Avenue Capital Management II, L.P., as administrative agent and collateral agent, Avenue Venture Opportunities Fund II, L.P., as a lender, and Avenue Venture Opportunities Fund, L.P., as a lender
Value: $15.0 million
Effective: 2022-11-22

Exact text from the filing

On November 22, 2022, Eyenovia, Inc. (the “Company”), as borrower, entered into a Loan and Security Agreement, including the initial Supplement referenced therein (the “Loan and Security Agreement”), with Avenue Capital Management II, L.P., as administrative agent and collateral agent (the “Agent”), Avenue Venture Opportunities Fund II, L.P., as a lender (“Avenue 2”), and Avenue Venture Opportunities Fund, L.P., as a lender (“Avenue 1", and together with Avenue 2, the “Lenders”).

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

HYPERION DEFI, INC. filing history →

Source: SEC EDGAR

accession 0001104659-22-122648

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