Loan & DebtAug 3, 2026, 07:07 AM
Autolus Secures $250M Senior Secured Notes Facility
AI Summary
Autolus Therapeutics plc has entered into a senior secured notes facility with Perceptive Credit Holdings V, LP for an aggregate principal amount of up to $250.0 million. The company immediately drew $75.0 million, with an additional $175.0 million available in tranches contingent on achieving certain consolidated net revenue levels. The facility matures on July 30, 2031, and carries an interest rate based on SOFR plus a margin. In connection with the facility, Autolus also issued warrants to Perceptive to purchase up to 3,500,000 American Depositary Shares (ADSs) at an exercise price of $1.9314 per ADS.
Key Highlights
- Secured a senior notes facility for up to $250.0 million with Perceptive Credit Holdings V, LP.
- Issued an initial tranche of $75.0 million on July 30, 2026.
- Facility includes three additional tranches totaling $175.0 million, contingent on revenue milestones.
- Maturity date for the Notes Facility is July 30, 2031.
- Interest rate is one-month term SOFR (or 3.50%, whichever is greater) plus an applicable margin of 6.75% to 7.25%.
- Company issued warrants to Perceptive to purchase up to 3,500,000 ADSs at an exercise price of $1.9314 per ADS.
- Obligations are guaranteed by wholly-owned subsidiaries and secured by substantially all company assets.
- Financial covenants include maintaining minimum liquidity of $12.5 million to $50.0 million and specific net revenue levels.
Price Impact
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