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Evolus gets $100 million senior debt facility with Oxford Finance
By Sarah Lizee
Olympia, Wash., March 18 – Evolus, Inc. closed a $100 million senior debt facility with Oxford Finance LLC, according to a press release.
The non-dilutive financing agreement provides Evolus with up to $100 million of borrowing capacity available in two tranches, each bearing interest at a minimum of 9.5% per annum.
An initial tranche of $75 million was funded at closing.
Evolus is required to make interest only payments on a monthly basis through April 2022.
An additional $25 million will be available at the company’s option, subject to certain conditions.
The entire senior debt facility will mature on March 1, 2024.
Cantor Fitzgerald & Co. acted as lead arranger and financial adviser.
Evolus is a performance beauty company based in Newport Beach, Calif.
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