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Theratechnologies Secures up to $75 Million in New Credit Facilities With TD Bank and Investissement Québec

Theratechnologies Secures up to $75 Million in New Credit Facilities With TD Bank and Investissement Québec

Theratechnologies與TD銀行和魁北克投資公司獲得多達7500萬美元的新信貸額度
GlobeNewswire ·  12/02 20:30
  • New financing replaces existing credit facility to optimize Company's capital structure
  • Favorable interest rates and amortization schedules to free up approximately $19 million in cash in 2025 to support business development strategy
  • 新的融資替代現有的信貸設施,以優化公司的資本結構
  • 優惠的利率和攤銷計劃將在2025年釋放約1900萬現金,以支持業務發展策略

MONTREAL, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Theratechnologies Inc. ("Theratechnologies" or the "Company") (TSX: TH) (NASDAQ: THTX), a biopharmaceutical company focused on the development and commercialization of innovative therapies, today announced that it has closed on a $40 million three-year non-dilutive, senior secured syndicated financing with TD Bank, as agent (TD Bank Financing). The new credit facilities include a $20 million accordion feature, which could expand total commitments up to $60 million. Investissement Québec (IQ), the Company's largest shareholder, has also agreed to provide a $15 million second ranking secured subordinated term loan (IQ Subordinated Loan). Net proceeds from the new loans together with cash on hand will be used to repay all obligations including prepayment penalties under the Company's existing facility with affiliates of Marathon Asset Management, L.P. (Marathon) pursuant to the credit agreement entered into with Marathon in July 2022, and to fund business development activities. All amounts are in US dollars unless otherwise stated.

蒙特利爾,2024年12月02日(全球新聞稿)—— theratechnologies公司("theratechnologies"或"公司")(tsx:th)(納斯達克:thtx),是一家專注於開發和商業化創新療法的生物製藥公司,今天宣佈已與td銀行達成一項4000萬的三年期非稀釋、優先擔保 syndicated 融資(td銀行融資)。新的信貸設施包括2000萬的可增容特性,可以將總承諾擴展到6000萬。公司的最大股東投資蒙特利爾(iq)也同意提供1500萬的第二等級擔保優先期限貸款(iq優先貸款)。新貸款的淨收益和現金餘額將用於償還所有義務,包括根據與馬拉松資產管理公司(馬拉松)在2022年7月簽訂的信貸協議下對公司現有設施的預付款罰款,以及資助業務發展活動。所有金額均以美元計,除非另有說明。

"This transaction represents a critical milestone for the Company's strategic focus on the commercialization of innovative therapies through business development deals and partnerships," said Philippe Dubuc, Senior Vice President and Chief Financial Officer at Theratechnologies. "The new facility's favorable rates and terms provide us with meaningful financial flexibility to execute on our acquisition strategy at substantially lower costs. The flexible structure fully aligns with our strategic objectives of continuing to enhance profitability and strengthen our balance sheet to fuel long-term growth and sustainability."

"這一交易代表了公司戰略重點在業務發展交易和夥伴關係中商業化創新療法的一個關鍵里程碑,"theratechnologies的高級副總裁及首席財務官Philippe Dubuc說。"新設施的優惠利率和條款爲我們提供了重要的財務靈活性,以更低的成本執行我們的收購策略。靈活的結構完全符合我們持續增強盈利能力和加強資產負債表以促進長期增長和可持續性的戰略目標。"

Key highlights of the TD Bank Financing include:

td銀行融資的關鍵亮點包括:

  • $25 million senior secured term loan and a $15 million senior secured revolving facility; each with interest on a floating rate (SOFR) plus a margin based on the Company's total net debt-to-Adjusted EBITDA ratio.
  • At closing, the interest rate will be SOFR plus 2.75%. This rate compares favorably to the Company's previous credit facility, which carried an interest rate of SOFR + 9.50%.
  • The TD Bank term loan will be amortized over a seven-year period, and will mature on November 27, 2027.
  • The Company has drawn $5 million on the revolving facility.
  • $2500萬高級擔保定期貸款和$1500萬高級擔保循環信貸;每個利息根據浮動利率(SOFR)加上基於公司總淨債務與調整後EBITDA比率的利差。
  • 在關閉時,利率將爲SOFR加2.75%。這個利率與公司之前的信貸設施相比具有優勢,後者的利率爲SOFR + 9.50%。
  • TD銀行的定期貸款將在七年內攤銷,並將於2027年11月27日到期。
  • 公司已在循環信貸中提取$500萬。

Key highlights of the IQ Subordinated Loan include:

IQ次級貸款的關鍵亮點包括:

  • A $15 million second ranking secured subordinated term loan with interest based on US Government rates plus a margin based on the Company's total net debt-to-Adjusted EBITDA ratio.
  • The interest rate is currently set at US Government rates plus 7.23%, or 11.45%.
  • The loan will be interest-only and be subject to full repayment after 42 months.
  • $1500萬第二優先擔保次級定期貸款,利息基於美國政府利率加上基於公司總淨債務與調整後EBITDA比率的利差。
  • 當前利率設定爲美國政府利率加7.23%,或11.45%。
  • 該貸款將爲利息支付,42個月後需全額償還。

After giving effect to the financing, the Company will have $45 million in debt, with an estimated cash balance as at November 30, 2024 of approximately $20 million, for a net debt position of approximately $25 million.

在融資生效後,公司將擁有4500萬的債務,預計到2024年11月30日現金餘額約爲2000萬,淨債務水平約爲2500萬。

About Theratechnologies

關於Theratechnologies

Theratechnologies (TSX: TH) (NASDAQ: THTX) is a biopharmaceutical company focused on the development and commercialization of innovative therapies addressing unmet medical needs. Further information about Theratechnologies is available on the Company's website at , on SEDAR+ at and on EDGAR at www.sec.gov. Follow Theratechnologies on Linkedin and X (Twitter).

Theratechnologies(TSX:TH)(NASDAQ:THTX)是一家生物製藥公司,專注於開發和商業化解決未滿足醫療需求的創新療法。更多關於Theratechnologies的信息,請訪問公司的網站。在SEDAR+上可以找到該行動的文件+和 www.sec.gov領英和X (推特).

Forward-Looking Information

前瞻性信息

This press release contains forward-looking statements and forward-looking information (collectively, the "Forward-Looking Statements") within the meaning of applicable securities laws, that are based on management's beliefs and assumptions and on information currently available to it. You can identify forward-looking statements by terms such as "may", "will", "should", "could", "promising", "would", "outlook", "believe", "plan", "envisage", "anticipate", "expect" and "estimate", or the negatives of these terms, or variations of them. The Forward-Looking Statements contained in this press release include, but are not limited to, statements regarding: (i) the use of the net proceeds from the TD Bank Financing and IQ Subordinated Loan; (ii) the acquisition strategy of the Company; and (iii) the Company's profitability and its long-term growth and sustainability. Although the Forward-Looking Statements contained in this press release are based upon what the Company believes are reasonable assumptions in light of the information currently available, investors are cautioned against placing undue reliance on these statements since actual results may vary from the Forward-Looking Statements contained in this press release. Certain assumptions made in preparing the Forward-Looking Statements include that: (i) the TD Bank Financing and IQ Subordinated Loan will help the Company making product acquisitions; and (ii) the terms of the TD Bank Financing and IQ Subordinated Loan will be less onerous to the Company than the terms under its credit agreement with Marathon.

本新聞稿包含根據適用證券法的定義,基於管理層信念和假設以及當前可獲得信息而作出的前瞻性陳述和前瞻性信息(統稱爲「前瞻性陳述」)。您可以通過類似於「可能」、「將」、「應該」、「能夠」、「承諾」、「會」、「展望」、「相信」、「計劃」、「設想」、「預期」、「期待」和「估計」等術語或這些術語的否定形式或變體來識別前瞻性陳述。本新聞稿中包含的前瞻性陳述包括但不限於關於以下內容的陳述:(i)來自TD銀行融資和IQ次級貸款的淨收益的使用;(ii)公司的收購策略;以及(iii)公司的盈利能力及其長期增長和可持續性。儘管本新聞稿中所包含的前瞻性陳述是基於公司相信在當前可用信息基礎上作出的合理假設,但投資者應謹慎對待這些陳述,因爲實際結果可能與本新聞稿中所包含的前瞻性陳述有所不同。在準備前瞻性陳述時所作出的某些假設包括:(i)TD銀行融資和IQ次級貸款將幫助公司進行產品收購;(ii)TD銀行融資和IQ次級貸款的條款對公司來說將不如與Marathon的信用協議的條款那麼苛刻。

Forward-Looking Statements assumptions are subject to a number of risks and uncertainties, many of which are beyond the Company's control, that could cause actual results to differ materially from those that are disclosed in or implied by such Forward-Looking Statements. These risks and uncertainties include, but are not limited to: (i) the occurrence of a default under the TD Bank Financing and/or the IQ Subordinated Loan; (ii) the right by any of TD Bank or IQ to foreclose on the assets of the Company if a default occurs; and (iii) the inability of the Company to execute on its strategy to acquire additional products as a result of various factors, including types of products available, synergies with the other products of the Company, or the lack thereof, pricing and terms of agreement.

前瞻性陳述的假設受到多種風險和不確定性的影響,其中許多因素超出了公司的控制範圍,這可能導致實際結果與這些前瞻性陳述中披露或暗示的結果顯著不同。這些風險和不確定性包括但不限於:(i)TD銀行融資和/或IQ次級貸款發生違約的情況;(ii)如果發生違約,TD銀行或IQ有權對公司的資產進行止贖;以及(iii)由於各種因素,包括可獲得產品的類型、與公司其他產品的協同效應或缺乏協同效應、定價和協議條款,公司未能執行其收購額外產品的策略。

The Company refers current and potential investors to the "Risk Factors" section of the Company's annual information form filed under Form 20-F dated February 21, 2024 available on SEDAR+ at and on EDGAR at www.sec.gov under Theratechnologies' public filings. The reader is cautioned to consider these and other risks and uncertainties carefully and not to put undue reliance on forward-looking statements. Forward-Looking Statements reflect current expectations regarding future events and speak only as of the date of this press release and represent the Company's expectations as of that date.

公司提醒當前和潛在投資者查閱公司於2024年2月21日在SEDAR+上提交的《20-F表格》年度信息表中的「風險因素」部分。 和 www.sec.gov 請讀者注意,認真考慮這些和其他風險和不確定性,並不過度依賴前瞻性陳述。前瞻性陳述反映了關於未來事件的當前預期,僅在本新聞稿發表之日有效,並代表公司在那個日期的預期。

The Company undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise, except as may be required by applicable law.

公司無義務更新或修訂本新聞稿中包含的信息,除非根據適用法律的要求,有新的信息、未來事件或情況或其他情況。

Contacts:

聯繫方式:

Investor Inquiries:
Philippe Dubuc
Senior Vice President and Chief Financial Officer
pdubuc@theratech.com
438-315-6608

投資者諮詢:
Philippe Dubuc
高級副總裁兼致富金融官
pdubuc@theratech.com
438-315-6608

Media inquiries:
Julie Schneiderman
Senior Director, Communications & Corporate Affairs
communications@theratech.com
1-514-336-7800

媒體詢問:
朱莉·施奈德曼
高級董事,通信-半導體與企業事務
communications@theratech.com
1-514-336-7800


声明:本內容僅用作提供資訊及教育之目的,不構成對任何特定投資或投資策略的推薦或認可。 更多信息
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