OptiNose amends debt covenants with BioPharma Credit, sets XHANCE sales targets through 2027

OptiNose, Inc.

Minimum trailing 12-month XHANCE net sales/royalties set: $70M (Mar 31, 2024) rising to $160M (June 30, 2027).
Make-whole premium on prepayments capped at $24M aggregate; formula changes based on prepayment timing relative to Nov 2024 and May 2026.
All other terms of the A&R Note Purchase Agreement remain unchanged; no default exists as of amendment date.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

OptiNose, Inc. amended Second Amendment with BioPharma Credit PLC (effective 2024-03-08).

Action: amendment
Agreement: credit facility
Counterparty: BioPharma Credit PLC
Effective: 2024-03-08

Exact text from the filing

On March 8, 2024, OptiNose, Inc. (the “Company”) entered in a Second Amendment (the “Second Amendment”) to its Amended and Restated Note Purchase Agreement dated November 21, 2022, as amended on March 5, 2024, among the Company, OptiNose US, Inc., the purchaser parties defined therein and BioPharma Credit PLC (as amended, the “A&R Note Purchase Agreement”).

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Source: SEC EDGAR

accession 0001494650-24-000027

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