Loan & DebtMay 4, 2026, 04:08 PM
Senseonics Secures $140M Senior Secured Term Loan Facility
AI Summary
Senseonics Holdings, Inc. entered into a Second Amendment to its Loan and Security Agreement, securing up to $140.0 million in senior secured term loans. This facility includes an initial $35.0 million, with an additional $20.0 million expected to be funded on May 6, 2026, and further tranches available upon meeting certain conditions. The loans mature on September 3, 2029, bear interest at a variable rate, and involve the issuance of additional warrants to the lenders.
Key Highlights
- Senseonics secured up to $140.0 million in senior secured term loans from Lenders and Hercules Capital, Inc.
- The facility includes an initial $35.0 million, a $10.0 million Tranche 2 Loan, and a $10.0 million Tranche 3A Loan expected to fund May 6, 2026.
- Additional tranches include $10.0 million (Tranche 3B), $15.0 million (Tranche 4), and an uncommitted $60.0 million (Tranche 5).
- Loans mature on September 3, 2029, with interest at prime rate + 2.40% or 9.90%, whichever is greater.
- Prepayment fees range from 3.0% (within 1 year) to 1.00% (after 2 years).
- Senseonics will issue additional warrants exercisable for 2.0% of funded loan amounts, based on the 3-day VWAP.
- A $100,000 facility fee and a $100,000 amendment fee are payable on the Amendment Closing Date.