Evolus, Inc. (EOLS): debt financing — Evolus extends $50M undrawn tranche availability to Dec 2023

Evolus, Inc.

Second $50M tranche under $125M term loan facility now available until Dec 31, 2023 (extended from Dec 31, 2022).
Paid $500K amendment fee; all other terms unchanged (3-month LIBOR +8.5%, interest-only first 36 months).
First $75M tranche fully drawn in 2021; company expects existing cash to fund operations through breakeven.
CEO cites market share gains and millennial demographic focus; Pharmakon continues to support the company.

item 1.01 item 2.03 item 7.01 item 9.01

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

Evolus, Inc. amended term loan with BPCR Limited Partnership, BioPharma Credit Investments V (Master) LP.

Instrument: term loan
Counterparty: BPCR Limited Partnership, BioPharma Credit Investments V (Master) LP
Event: amendment

Exact text from the filing

On December 5, 2022, Evolus, Inc. (the “Company”) entered into a Second Amendment to Loan Agreement (the “Second Amendment”) with BPCR Limited Partnership (as a “Lender”), BioPharma Credit Investments V (Master) LP (as a “Lender” and, together with BPCR Limited Partnership, the “Lenders”), and Biopharma Credit PLC, as collateral agent for the Lenders (in such capacity, the “Collateral Agent), which amends certain terms of the Loan and Security Agreement, dated December 14, 2021, as amended, by and among the Company, Lenders, and Collateral Agent (the “Loan Agreement”). The Second Amendment extends the Company’s option to draw down the second tranche of $50 million of the term loan facility provided under the Loan Agreement until December 31, 2023 (the “Draw Period”).

View on SEC.gov

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

Evolus, Inc. amended Second Amendment to Loan Agreement with BPCR Limited Partnership, BioPharma Credit Investments V (Master) LP, and Biopharma Credit PLC valued at $50 million (effective 2022-12-05).

Action: amendment
Agreement: credit facility
Counterparty: BPCR Limited Partnership, BioPharma Credit Investments V (Master) LP, and Biopharma Credit PLC
Value: $50 million
Effective: 2022-12-05

Exact text from the filing

On December 5, 2022, Evolus, Inc. (the “Company”) entered into a Second Amendment to Loan Agreement (the “Second Amendment”) with BPCR Limited Partnership (as a “Lender”), BioPharma Credit Investments V (Master) LP (as a “Lender” and, together with BPCR Limited Partnership, the “Lenders”), and Biopharma Credit PLC, as collateral agent for the Lenders (in such capacity, the “Collateral Agent), which amends certain terms of the Loan and Security Agreement, dated December 14, 2021, as amended, by and among the Company, Lenders, and Collateral Agent (the “Loan Agreement”). The Second Amendment extends the Company’s option to draw down the second tranche of $50 million of the term loan facility provided under the Loan Agreement until December 31, 2023 (the “Draw Period”).

View on SEC.gov

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

Evolus, Inc. filing history →

Source: SEC EDGAR

accession 0001570562-22-000146

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