Puma Biotechnology enters $100M note purchase agreement to refinance prior credit facility

PUMA BIOTECHNOLOGY, INC.

Issued $100M notes to Athyrium; $25M additional available; used proceeds plus ~$9.2M to repay prior $100M facility.
Notes bear 8.0% + 3-month LIBOR; quarterly interest; principal amortization starts June 2024, maturity July 2026.
Covenants require minimum cash and minimum NERLYNX-based revenue; secured by substantially all assets including IP.
Prepayment fees: make-whole within 2 years, 2% thereafter to year 3; exit fee 2% on any prepayment.
Restrictions on additional debt, dividends, mergers, asset sales, and change of control.

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