---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-007468"
form_type: "8-K"
ticker: "CHRS"
cik: "0001512762"
company_name: "Coherus Oncology, Inc."
filed_at: "2024-05-09T23:59:59+00:00"
generated_at: "2026-06-02T05:39:45.226304+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Coherus enters $38.7M term loan and $37.5M royalty sale to repay $75M prior debt

## Summary
- New $38.7M senior secured term loan at 8.00% + 3M SOFR; matures May 8, 2029; interest-only quarterly.
- Proceeds used to repay $75M prior loan from BioPharma Credit; prior loan terminated with prepayment fee and make-whole.
- Entered royalty sale of mid-single-digit % of U.S. net sales of UDENYCA and LOQTORZI for $37.5M; buyer receives up to 2.25x purchase price.
- Loan prepayment penalties: 10% in year 2, 5% in year 3, 0% after year 3; default interest adds 4%.
- Loan secured by substantially all assets; financial covenant requires maintaining certain cash levels.

## SEC filing metadata
- accession: 0001558370-24-007468
- form_type: 8-K
- ticker: CHRS
- cik: 0001512762
- company_name: Coherus Oncology, Inc.
- filed_at: 2024-05-09T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 1.02, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1512762/000155837024007468/0001558370-24-007468-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1512762/000155837024007468/chrs-20240508x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-007468
- JSON: https://secwatch.observer/filing/0001558370-24-007468.json
- Plain text: https://secwatch.observer/filing/0001558370-24-007468.txt

## Key facts
- Debt Financings
  Coherus Oncology, Inc. incurred term loan of $38.7 million with Ankura Trust Company, LLC at 8.00% per annum, plus a three month SOFR rate maturing May 8, 2029.
  - Instrument: term loan
  - Principal: $38.7 million
  - Counterparty: Ankura Trust Company, LLC
  - Rate: 8.00% per annum, plus a three month SOFR rate
  - Maturity: May 8, 2029
  - Event: incurrence
  source text: On May 8, 2024, Coherus BioSciences, Inc., a Delaware corporation (the “Company”), entered into a senior secured term loan facility of up to $38.7 million (the “Term Loan”), all to be funded on May 8, 2024 (the “Effective Date”), with Ankura Trust Company, LLC, as administrative agent
  evidence_url: https://www.sec.gov/Archives/edgar/data/1512762/000155837024007468/0001558370-24-007468-index.htm
- Material Agreements
  Coherus Oncology, Inc. terminated Prior Loan Agreement valued at $75 million (effective 2024-05-08).
  - Action: termination
  - Agreement: credit facility
  - Value: $75 million
  - Effective: 2024-05-08
  source text: In connection with the entry into the Loan Agreement, on the Effective Date, the Company repaid in full all outstanding indebtedness and terminated all commitments under the Prior Loan Agreement, the material terms of which have been disclosed previously.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1512762/000155837024007468/0001558370-24-007468-index.htm
- Material Agreements
  Coherus Oncology, Inc. entered into Revenue Purchase and Sale Agreement with Coduet Royalty Holdings, LLC, as administrative agent and each buyer named in an annex thereto valued at $37.5 million (effective 2024-05-08).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Coduet Royalty Holdings, LLC, as administrative agent and each buyer named in an annex thereto
  - Value: $37.5 million
  - Effective: 2024-05-08
  source text: On May 8, 2024, the Company entered into a revenue participation right purchase and sale agreement (the “Revenue Purchase and Sale Agreement”) with Coduet Royalty Holdings, LLC, as administrative agent and each buyer named in an annex thereto (collectively, the “Purchaser”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1512762/000155837024007468/0001558370-24-007468-index.htm
- Material Agreements
  Coherus Oncology, Inc. entered into Loan Agreement with Ankura Trust Company, LLC, as administrative agent, and the lenders signatory thereto valued at $38.7 million (effective 2024-05-08).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Ankura Trust Company, LLC, as administrative agent, and the lenders signatory thereto
  - Value: $38.7 million
  - Effective: 2024-05-08
  source text: On May 8, 2024, Coherus BioSciences, Inc., a Delaware corporation (the “Company”), entered into a senior secured term loan facility of up to $38.7 million (the “Term Loan”), all to be funded on May 8, 2024 (the “Effective Date”), with Ankura Trust Company, LLC, as administrative agent (in such capacity, the “Agent”), and the lenders signatory thereto (collectively, the “Lenders”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1512762/000155837024007468/0001558370-24-007468-index.htm

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