An announcement from Tarsus Pharmaceuticals (TARS) is now available.
Tarsus Pharmaceuticals has secured a significant financial boost with a $75 million loan from a consortium led by Pharmakon Advisors LP, to repay existing debts and fund corporate initiatives. This Loan Agreement also presents the opportunity for the company to access up to an additional $125 million through three further tranches, subject to meeting certain conditions and sales milestones. The loans, maturing in 2029, carry a floating interest rate tied to the SOFR, with a floor of 3.75% and an added margin. These strategic funds are vital for Tarsus Pharmaceuticals’ growth, while the agreement’s covenants ensure prudent financial management without diluting shareholder value.
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