debt
confidence high
sentiment positive
materiality 0.75
Evolus enters $125M credit facility with Pharmakon Advisors; initial $75M draw
Evolus, Inc.
- $75M drawn at close; up to $50M additional tranche available until Dec 31, 2022.
- Facility matures in 6 years, interest-only for first 39 months; rate = 3-month LIBOR (1% floor) + 8.5%.
- Proceeds for general corporate, working capital, and potential strategic transactions.
- Company expects initial tranche to fund operations beyond cash flow breakeven, removing near-term equity dilution.