Outset Medical secures $100M term loan, issues warrants and Series A Preferred in refinancing

Outset Medical, Inc.

Borrowed $100M initial term loan from Perceptive Credit Holdings; used proceeds to repay existing SLR credit facilities.
Issued warrant to Perceptive to purchase 5.625M shares of common stock at $0.80, exercisable for 7 years.
Issued 863,340 shares of Series A Non-Voting Convertible Preferred at $200/share, convertible into 250 common shares each after stockholder approval.
Series A Preferred accrues dividends at 8% annual rate, increasing 2% per year if stockholder approval not obtained within one year.
Delayed draw term loan of up to $25M available; additional warrant for 1.40625M shares at future market price.

item 1.01 item 1.02 item 2.03 item 5.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Outset Medical, Inc.: Filed Certificate of Designation for Series A Non-Voting Convertible Preferred Stock, establishing rights, preferences, and limitations (effective 2025-01-07).

Change: charter amendment
Effective: 2025-01-07

Exact text from the filing

On January 7, 2025, the Company filed a Certificate of Designation of Preferences, Rights and Limitations of the Series A Non-Voting Convertible Preferred Stock with the Secretary of State of the State of Delaware (the "Certificate of Designations") in connection with the Private Placement.

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Outset Medical, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-25-003545

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