Esperion closes $150M term loan and $210M convertible debt exchange to refinance 2025 notes

Esperion Therapeutics, Inc.

Entered $150M senior secured term loan at 9.75% cash / 11.75% PIK, due Dec 2029, with minimum liquidity covenant of $50M.
Exchanged ~$210.1M of 4% 2025 notes for $57.5M in new 5.75% notes due 2030 and $153.4M cash; ~$42.5M raised via subscription for new notes.
New notes due 2030 have a conversion rate of 326.7974 shares/$1,000 (approx $3.06/share) and are redeemable from Dec 2027 at 130% threshold.
Proceeds from term loan and subscription will fund cash portion of exchange and general corporate purposes.
After closing, ~$54.9M of 2025 notes remain outstanding with unchanged terms.

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