Nuvation Bio Inc. (NUVB): debt financing — Nuvation Bio secures up to $250M in debt and royalty financing for taletrectinib

Nuvation Bio Inc.

$100M loan with Sagard; initial $50M tranche upon FDA approval of taletrectinib by Sep 30, 2025; second $50M upon first US commercial sale by Jun 30, 2026
Loan matures Sep 30, 2030, interest SOFR (4% floor) + 6% quarterly; prepayment premiums; $25M minimum cash covenant
$150M revenue interest financing; tiered royalties: 5.5% on US net sales up to $600M, 3.0% on $600M-$1B, none above $1B
Royalty obligation ends at 1.6x-2.0x investment amount; true-up if not repaid by Feb 1, 2043
Company can buy out royalty at 140%-200% of investment amount less payments made; investor can put upon certain events

item 1.01 item 2.03

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

Nuvation Bio Inc. incurred debt of $150 million with Sagard Healthcare Partners (Delaware) II LP.

Principal: $150 million
Counterparty: Sagard Healthcare Partners (Delaware) II LP
Event: incurrence

Exact text from the filing

On the Closing Date, the Company also entered into a Revenue Interest Financing Agreement (the “Financing Agreement”) with Sagard Healthcare Partners (Delaware) II LP (the “Investor”), pursuant to which the Investor has agreed to pay the Company $150 million (the “Investment Amount”) to provide funding for the Company’s development and commercialization of taletrectinib upon receipt of FDA Approval (as defined in the Financing Agreement) of taletrectinib.

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

Nuvation Bio Inc. incurred loan of $100.0 million with Sagard Holdings Manager LP at secured overnight financing rate (subject to a 4.00% floor) plus a margin of 6.0 maturing September 30, 2030.

Instrument: loan
Principal: $100.0 million
Counterparty: Sagard Holdings Manager LP
Rate: secured overnight financing rate (subject to a 4.00% floor) plus a margin of 6.0
Maturity: September 30, 2030
Event: incurrence

Exact text from the filing

On March 3, 2025 (the “Closing Date”), Nuvation Bio Inc. (the “Company”) entered into a $100.0 million senior secured loan agreement (the “Loan Agreement”), with Sagard Holdings Manager LP (“Sagard”) as administrative agent, and the lenders party thereto.

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

Nuvation Bio Inc. filing history →

Source: SEC EDGAR

accession 0001193125-25-045568

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