Treace Medical secures $175M debt facility, refinances MidCap loans; names lead independent director

TREACE MEDICAL CONCEPTS, INC.

Entered $175M senior secured loan: $60M term funded, $65M additional term (revenue-dependent), $50M revolver (expandable from $30M).
Proceeds used to repay $50M term and $4M revolver from MidCap loans; paid $2.3M in prepayment/exit fees.
Term loan at 1-month SOFR (floor 3%) + 5.05%; revolver at 3-month SOFR (floor 3%) + 4%; interest-only for 48 months.
Post-refinancing liquidity ~$165M; dividends restricted under loan covenants.
Board appointed John K. Bakewell as lead independent director; former CFO of Exact Sciences.

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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

TREACE MEDICAL CONCEPTS, INC. incurred revolving credit of $30 million with Gemino Healthcare Finance, LLC d/b/a SLR Healthcare ABL at 3-Month SOFR plus 4.00% maturing 60 month.

Instrument: revolving credit
Principal: $30 million
Counterparty: Gemino Healthcare Finance, LLC d/b/a SLR Healthcare ABL
Rate: 3-Month SOFR plus 4.00%
Maturity: 60 month
Event: incurrence

Exact text from the filing

The Revolving Loan Agreement establishes a 60 month revolving loan facility providing $30 million in additional borrowing capacity to the Company.

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

TREACE MEDICAL CONCEPTS, INC. incurred term loan of up to $125 million with SLR Investment Corp. at 1-Month SOFR plus 5.05% maturing 60 month.

Instrument: term loan
Principal: up to $125 million
Counterparty: SLR Investment Corp.
Rate: 1-Month SOFR plus 5.05%
Maturity: 60 month
Event: incurrence

Exact text from the filing

The Term Loan Agreement provides a 60 month term loan facility for up to $125 million in borrowing capacity to the Company over four tranches. At the loan closing, the Company drew $60 million under tranche one.

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

TREACE MEDICAL CONCEPTS, INC. filing history →

Source: SEC EDGAR

accession 0001193125-25-323802

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