Madrigal enters $500M credit facility with Blue Owl; $350M funded to repay debt and fund MASH pipeline

MADRIGAL PHARMACEUTICALS, INC.

$350M initial term loan funded at close; $150M delayed draw available through Dec 2027.
$121.6M used to repay existing Hercules Capital loan ($115M principal + fees), terminating that agreement.
Interest at base rate + 3.75% or Term SOFR + 4.75% (with 1% SOFR floor); maturity July 2030.
Uncommitted $250M incremental facility available by mutual consent for strategic expansion.
Covenant requires minimum $100M unrestricted cash at all times; secured by substantially all assets.

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