Loan & DebtMay 12, 2026, 09:34 AM
Aquestive Secures New $150M Debt Facility with Oaktree
AI Summary
Aquestive Therapeutics announced the refinancing of its existing debt with a new $150 million debt facility from Oaktree Capital Management, L.P. This transaction provides additional flexibility to fund the potential launch of Anaphylm , if approved by the FDA. The new five-year facility includes an initial $55 million, primarily used to repay the company's existing $45 million loan, with further tranches available upon FDA approval and sales milestones. This agreement eliminates $45 million in principal debt repayments over the next three years and reduces interest rates.
Key Highlights
- Aquestive secured a new $150 million debt facility with Oaktree Capital Management.
- Initial $55 million was funded at closing, primarily repaying the existing $45 million loan.
- An additional $20 million will be available upon FDA approval of Anaphylm and other conditions.
- A third tranche of $25 million will be available upon achieving specified sales milestones.
- A final tranche of up to $50 million is available with mutual consent of lenders and company.
- The new five-year facility is interest-only, with all principal due at maturity.
- The agreement reduces principal debt repayments over the next three years from $45 million to zero.
- The new facility also reduces the interest rate compared to the previous debt agreement.