Esperion closes refinancing transactions

Esperion (ESPR) has closed on a series of financing transactions that will support the Company’s repayment of a portion of its existing $265M convertible debt facility. The transactions included a $150M senior secured term loan facility led by funds managed by Athyrium Capital Management, and joined by funds managed by HealthCare Royalty and issuance of new $100M Convertible Notes to accredited investors. The Company expects to use the proceeds from the Loan and approximately $60M of the proceeds from subscription for the New Notes to repay $210M of the existing convertible debt with the remaining approximately $40M of the proceeds to be allocated as operating cash.