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scPharmaceuticals (SCPH) has issued an update.
scPharmaceuticals, Inc. secured a $75 million term loan from Perceptive Credit Holdings to enhance their commercialization efforts, particularly for FUROSCIX, and to address general corporate needs. The loan consists of a $50 million initial disbursement and an additional $25 million available under specific conditions. The loan, maturing on August 9, 2029, carries an interest based on SOFR with a 3.25% floor, plus a 6.75% margin. Additionally, the company issued Perceptive warrants to purchase 300,000 shares of common stock. The loan is secured by the company’s assets and contains financial covenants and default provisions. Concurrently, scPharmaceuticals also sold revenue participation rights for FUROSCIX to Perceptive for $50 million, with terms allowing the purchaser to receive a defined percentage of net sales, subject to certain conditions and buy-out options.
Find detailed analytics on SCPH stock on TipRanks’ Stock Analysis page.
