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Zevra Therapeutics (ZVRA) just unveiled an announcement.
Zevra Therapeutics secured a $100 million senior secured loan, structured in three tranches, to enhance its financial flexibility while advancing the development and commercialization of its therapies. The first tranche of $60 million was received immediately, with the remaining funds contingent on meeting certain conditions, including FDA approval for a key drug. The loan bears interest at a rate of 3-Month Term SOFR plus 7.00%, with potential reductions based on sales performance, and will mature five years from the closing date. The funds will also be used to refinance existing debts, including the full repayment of a prior agreement with Nantahala Capital Management and settling the company’s margin account with Wells Fargo.
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