Omeros amends term loan to extend drawdown deadline for second tranche

By Marisa Wong

Morgantown, W.Va., Oct. 17 – Omeros Corp. amended on Oct. 11 its credit agreement dated Oct. 26, 2016 with CRG Servicing LLC as administrative agent and collateral agent, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

Under the amendment, the company will be allowed to access the second and third tranches of debt financing under the loan agreement in amounts up to $25 million and $20 million, respectively, on or prior to March 21, 2018.

The company’s ability to access the second tranche under had previously expired on Sept. 19, but the amendment extends the deadline to coincide with the last permitted drawdown date for the third tranche, March 21, 2018.

The company can now choose to draw down any or all of the $45 million total.

The company has not drawn or requested any funds under either tranche as of Oct. 17, the filing noted.

Omeros is a biopharmaceutical company based in Seattle.

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