secwatch.observer — SEC 8-K summary
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Issuer:     BIOCRYST PHARMACEUTICALS INC (BCRX)
CIK:        0000882796
Form:       8-K
Filed at:   2023-04-18T23:59:59+00:00
Accession:  0001171843-23-002355
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BioCryst secures $450M Pharmakon credit facility; draws $300M to refinance debt, extend maturity to 2028
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- $300M drawn at closing; remaining $150M available on option through Sept 2024.
- Net proceeds ~$26M after repaying $241.8M existing Athyrium facility and fees.
- Interest: 3-month SOFR + 7.00% (1.75% floor); option to pay up to 50% interest in-kind for first six quarters (margin +0.25%).
- No financial covenants, no scheduled amortization; all principal due April 2028.
- Extends repayment bullet from 2025 to 2028; CFO says reduces dependence on capital markets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/882796/000117184323002355/0001171843-23-002355-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/882796/000117184323002355/f8k_041823.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-002355

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