Evolus, Inc. (NASDAQ: EOLS), a performance beauty company with a customer-centric approach focused on delivering breakthrough products, today announced the closing of a $100 million senior debt facility with Oxford Finance LLC, a specialty finance firm that provides senior debt to life sciences and healthcare services companies.
The non-dilutive financing agreement provides Evolus with up to $100 million of borrowing capacity available in two tranches, each bearing interest at a minimum of 9.5% per annum. Under the terms of the agreement, an initial tranche of $75 million was funded at closing. Evolus is required to make interest only payments on a monthly basis through April 2022. An additional $25 million will be available at the company’s option, subject to certain conditions. The entire senior debt facility will mature on March 1, 2024. Further information with respect to the credit facility is set forth in a Form 8-K filed by Evolus with the Securities and Exchange Commission on March 18, 2019.
Cantor Fitzgerald & Co acted as Sole Lead Arranger and financial advisor to Evolus on this transaction.
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