Coherus Biosciences (CHRS) has released an update to notify the public and investors about an entry into a material definitive agreement.
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Coherus BioSciences, Inc. has amended its loan agreement with Biopharma Credit PLC and other lenders, allowing for certain consents and asset releases linked to a new deal with Sandoz Inc. The amendment also permits a substantial $175 million prepayment of the loan principal following the sale to Sandoz, along with an adjustment to the sales covenant requirements. This strategic financial move aims to streamline Coherus BioSciences’ obligations while pursuing new business opportunities.
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For a comprehensive understanding of the announcement, you can read the full document here.
