Vera Therapeutics, Inc. (VERA): debt financing — Vera Therapeutics draws $25M in new term loans from Oxford Finance

Vera Therapeutics, Inc.

Total borrowings under the Loan Agreement now $50M, after draws of $5M (Dec 2021), $20M (Nov 2022), and this $25M.
Loan bears floating interest at the greater of 8.25% or 1-Month CME Term SOFR + 8.25% per annum.
Final maturity date is December 17, 2027; a final fee of 7% of aggregate principal is due at maturity or prepayment.
Prepayment fee: 3% if within first year after funding, 2% if within second year, none thereafter.
Proceeds use not specified; lender is Oxford Finance LLC.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Vera Therapeutics, Inc. incurred term loan of $25.0 million with Oxford Finance LLC at the greater of (i) 8.25% and (ii) the sum of (a) 1-Month CME Term SOFR and (b) 8 maturing December 17, 2027.

Instrument: term loan
Principal: $25.0 million
Counterparty: Oxford Finance LLC
Rate: the greater of (i) 8.25% and (ii) the sum of (a) 1-Month CME Term SOFR and (b) 8
Maturity: December 17, 2027
Event: incurrence

Exact text from the filing

On December 22, 2023, Vera Therapeutics, Inc. (the “Company”) drew down an aggregate of $25.0 million in new term loans pursuant to its previously disclosed Loan and Security Agreement, dated December 17, 2021, as amended (the “Loan Agreement”), by and between the Company and Oxford Finance LLC (the “Lender”).

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34 debt financings filed in the last 30 days. Browse all debt financings →

Vera Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-303004

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