Roivant subsidiary Dermavant renegotiates debt, reduces potential payments by over $300M

Roivant Sciences Ltd.

Dermavant caps RIPSA royalties at $6M/yr for FY2025-2027, reducing near-term cash outflow.
Credit Agreement maturity extended to May 2028; interest rate increased to 12.25% from 10%.
NovaQuest fixed quarterly payments of $176.3M eliminated; up to $141M in commercial milestones also eliminated.
Roivant commits $195M in convertible preferred equity at 1.5x liquidation preference; DSL issues ~13.2% common shares to lenders.
Post-closing, Roivant owns ~87% of DSL common/preferred (~82% fully diluted).

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