Liquidia raises $100M: $75M equity private placement + $25M debt from HCR

Liquidia Corp

Private placement of 7,182,532 shares at $10.442/share (8% discount to Jan 3 close) to Patient Square Capital affiliate; gross proceeds ~$75M.
Fourth amendment to RIFA funds additional $25M from HCR, bringing total drawn to $67.5M; remaining $32.5M available upon mutual agreement.
CFO says combined $126M (including Dec 2023 offerings) positions company to reach profitability if YUTREPIA launches by April 2024.
Proceeds to fund commercial development, clinical trials for YUTREPIA (PAH/PH-ILD) and L606, plus general corporate purposes.
Equity issuance expected to close January 8, 2024; no broker fees paid.

Key facts

Extracted from this filing and checked against the source text.

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

Liquidia Corp entered into Registration Rights Agreement with Legend Aggregator, LP valued at Agreement to file registration statement for resale of Private Placement Shares (effective 2024-01-04).

Action: entry
Agreement: equity purchase
Counterparty: Legend Aggregator, LP
Value: Agreement to file registration statement for resale of Private Placement Shares
Effective: 2024-01-04

Exact text from the filing

In connection with the Private Placement, on January 4, 2024, the Company entered into a registration rights agreement (the “Registration Rights Agreement”) with the Purchaser.

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

Liquidia Corp entered into Fourth Amendment to Revenue Interest Financing Agreement with HealthCare Royalty Partners IV, L.P. valued at $25,000,000 additional funding (effective 2024-01-03).

Action: entry
Agreement: credit facility
Counterparty: HealthCare Royalty Partners IV, L.P.
Value: $25,000,000 additional funding
Effective: 2024-01-03

Exact text from the filing

On January 3, 2024, Liquidia Technologies and HCR entered into a Fourth Amendment to the Financing Agreement (the “Fourth Amendment”) to fund an additional $25.0 million thereunder.

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746 material agreements filed in the last 30 days. Browse all material agreements →

Liquidia Corp filing history →

Source: SEC EDGAR

accession 0001104659-24-001504

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