Omeros to repay term loan agreement with proceeds from convertibles

By Sarah Lizee

Olympia, Wash., Nov. 9 – Omeros Corp. plans to repay in full the amounts outstanding under its secured term loan agreement with CRG Servicing LLC with proceeds from an offering of $210 million of convertible notes, according to a press release.

The term loan agreement has an annual interest rate of 12.25% and matures on Sept. 30, 2022.

Amounts repaid will include all accrued interest and prepayment fees under the term loan agreement.

Remaining proceeds from the offering will be used for general corporate purposes.

Omeros is a Seattle-based commercial-stage biopharmaceutical company.

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