---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-018964"
form_type: "8-K"
ticker: "OMER"
cik: "0001285819"
company_name: "OMEROS CORP"
filed_at: "2024-06-03T23:59:59+00:00"
generated_at: "2026-06-01T06:44:24.647284+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Omeros enters $92.1M term loan, repurchases $118.1M convertible notes at 74.75% of par, extinguishes $51M debt

## Summary
- New $67.1M initial term loan funded June 3, 2024, plus $25M delayed draw available upon FDA approval of narsoplimab for TA-TMA.
- Used $67.1M loan and $21.2M cash to repurchase $118.1M (55%) of 5.25% convertible notes due 2026, resulting in $51M debt extinguishment.
- Non-dilutive transaction; no equity component. Loans mature June 3, 2028, with interest at SOFR (3% floor) + 8.75% per annum.
- Credit agreement requires maintaining ≥$25M unrestricted cash; additional repurchases of 2026 notes permitted under limitations.
- After repurchase, $97.9M of 2026 notes outstanding; Omeros retains flexibility to exchange up to $16.9M notes for cash and additional term loans.

## SEC filing metadata
- accession: 0001437749-24-018964
- form_type: 8-K
- ticker: OMER
- cik: 0001285819
- company_name: OMEROS CORP
- filed_at: 2024-06-03T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1285819/000143774924018964/0001437749-24-018964-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1285819/000143774924018964/omer20240531_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-018964
- JSON: https://secwatch.observer/filing/0001437749-24-018964.json
- Plain text: https://secwatch.observer/filing/0001437749-24-018964.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.