REGENXBIO Inc. (RGNX): debt financing — REGENXBIO closes up to $250M royalty bond with HCRx; $150M funded, cash runway into early 2027

REGENXBIO Inc.

Received $150M at closing; up to $250M total via three tranches, including $50M contingent on Zolgensma sales threshold by Apr 2027.
Royalty bond bears interest at 9.75% + 3-month SOFR (4.25% floor); repayment solely from royalties on Zolgensma, RGX-121, RGX-111, and NAV platform licensees.
Issued HCRx warrant for 268,096 shares at $14.92 (100% premium to 30-day VWAP), exercisable for 10 years.
Extends expected cash runway into early 2027, funding late-stage programs including RGX-121, RGX-202, and ABBV-RGX-314.
Retains future non-dilutive sources: potential Priority Review Voucher for RGX-121 and milestones from AbbVie and Nippon Shinyaku.

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

REGENXBIO Inc. incurred loan of up to $250 million with an affiliate of HealthCare Royalty Management, LLC at 9.75% plus the 3-month secured overnight financing rate as administered by the F maturing the earlier of (i) 10 years after the Closing Date or (ii) the date on which the Royalty Bond has been fully repaid within ten years after the Closing Date, unl.

Instrument: loan
Principal: up to $250 million
Counterparty: an affiliate of HealthCare Royalty Management, LLC
Rate: 9.75% plus the 3-month secured overnight financing rate as administered by the F
Maturity: the earlier of (i) 10 years after the Closing Date or (ii) the date on which the Royalty Bond has been fully repaid within ten years after the Closing Date, unl
Event: incurrence

Exact text from the filing

affiliate of HealthCare Royalty Management, LLC (“HCRx”). Under the terms of the Loan Agreement, HCRx will provide REGENXBIO RS with an aggregate limited recourse loan of up to $250 million (the “Royalty Bond”). The Royalty Bond will be disbursed in three tranches, with $150 million already funded on the Closing Date, $50 million available if sales of a specified

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Source: SEC EDGAR

accession 0001193125-25-122456

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