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Opko Health (OPK) just unveiled an announcement.
OPKO Health, Inc. has entered into a financial agreement for the issuance of $250 million in senior secured notes, maturing in 2044, with interest tied to the 3-month SOFR plus 7.5%. The notes are backed by profit share payments from a partnership with Pfizer and come with a 3% exit fee upon full repayment. Additionally, the company may issue $50 million more in notes and has set conditions for repayment, including a hefty premium if settled before maturity. These transactions are supported by guarantees and security interests from OPKO’s subsidiaries and are intended for accredited investors or qualified institutional buyers, as per the Securities Act exemptions.
For detailed information about OPK stock, go to TipRanks’ Stock Analysis page.