secwatch / observer
8-K filed September 29, 2025, 7:59 PM ET ticker SPRY CIK 0001671858
debt confidence high sentiment positive materiality 0.75

ARS Pharmaceuticals, Inc. (SPRY): debt financing — ARS Pharmaceuticals enters $250M credit facility, draws $100M upfront

ARS Pharmaceuticals, Inc.

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

ARS Pharmaceuticals, Inc. incurred term loan of first tranche (the “Term A Loan”) was advanced in the principal amount of $100.0 million with RA Capital Agency Services, LLC as Administrative Agent and Collateral Agent; affiliates of OMERS Administration Corporation and RA Capital Management, L.P. as lenders maturing five-year anniversary of the Closing Date.

Instrument
term loan
Principal
first tranche (the “Term A Loan”) was advanced in the principal amount of $100.0 million
Counterparty
RA Capital Agency Services, LLC as Administrative Agent and Collateral Agent; affiliates of OMERS Administration Corporation and RA Capital Management, L.P. as lenders
Maturity
five-year anniversary of the Closing Date
Event
incurrence
Exact text from the filing
The first tranche (the “Term A Loan”) was advanced in the principal amount of $100.0 million on September 29, 2025 (“Closing Date”).
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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

ARS Pharmaceuticals, Inc. incurred term loan of up to $250.0 million of term loans with RA Capital Agency Services, LLC as Administrative Agent and Collateral Agent; affiliates of OMERS Administration Corporation and RA Capital Management, L.P. as lenders at 5.50% plus the greater of (i) three-month forward-looking term SOFR or (ii) 3.00 maturing five-year anniversary of the Closing Date.

Instrument
term loan
Principal
up to $250.0 million of term loans
Counterparty
RA Capital Agency Services, LLC as Administrative Agent and Collateral Agent; affiliates of OMERS Administration Corporation and RA Capital Management, L.P. as lenders
Rate
5.50% plus the greater of (i) three-month forward-looking term SOFR or (ii) 3.00
Maturity
five-year anniversary of the Closing Date
Event
incurrence
Exact text from the filing
On September 29, 2025, ARS Pharmaceuticals, Inc. (the “Company”) and certain direct and indirect subsidiaries of the Company who may become a party thereto from time to time, as guarantors (the “Guarantors”), and ARS Pharmaceuticals Operations, Inc., a wholly owned subsidiary of the Company, as the borrower (the “Borrower” and, collectively with the Guarantors, the “Credit Parties”), entered into a credit agreement (the “Credit Agreement”) with RA Capital Agency Services, LLC (as the “Administrative Agent” and as the “Collateral Agent”), and affiliates of OMERS Administration Corporation and RA Capital Management, L.P., as lenders, and such other lenders from time to time party thereto (the “Lenders”), providing for up to $250.0 million of term loans from the Lenders to the Borrower (the “Term Loans”).
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ARS Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR
accession 0001193125-25-223228
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