Celcuity Inc. announced an amendment to its senior secured credit facility with Innovatus Capital Partners, LLC and Oxford Finance LLC.
The amendment increases the total term loan facility size to $500 million, with $350 million in committed capital and an optional $150 million.
Highlights of the amended facility include increased capital availability and improved structure and financial flexibility.
Increased Capital Availability
Total term loan facility increased to $500 million with $170 million in new committed capital and additional optional funds.
Improved Structure
Extension of interest-only period by 14 months and maturity date by six months, enhancing financial flexibility.
Positive Impact on Celcuity
Enhanced financial flexibility following positive topline data from pivotal VIKTORIA-1 Phase 3 clinical study.
- The amendment strengthens Celcuity's capital structure, providing support for FDA submission of its New Drug Application.
- Enhanced access to up to $150 million in additional funds ensures financial flexibility for strategic initiatives and commercial launch preparations.
The amended credit facility significantly enhances Celcuity's financial position, supporting its strategic goals and initiatives.