Omeros Corporation announced a private placement of senior secured term loan facility initially of up to $92.1 million on June 3, 2024. The transaction will include participation from new lenders, funds managed by Athyrium Capital Management, LP and Highbridge Capital Management, LLC. The loan consisting of (i) an initial term loan of $67.1 million, which was fully funded on the closing date, and (ii) a $25 million delayed draw term loan, which may be drawn once in full on or prior to June 3, 2025. The initial term loan has no original issue discount, while the delayed draw term loan would be issued with an original issue discount of 3%. Neither the initial term loan nor the delayed draw term loan include any equity consideration for the lenders. The credit agreement with a four-year term has a scheduled maturity date of June 3, 2028. The loans accrue interest at a rate of adjusted term SOFR (with a 3% floor) plus 8.75% per annum, payable quarterly. The company may choose to pay up to 50% of any quarterly interest payment in kind by adding the portion of such interest payment to the outstanding principal amount of Loans using a quarterly interest rate of adjusted term SOFR (with a 3% floor) plus 10.25% per annum.

On the same date, the company received $67.1 million in first tranche closing.