Senseonics unit draws $10 million tranche from secured term facility

By William Gullotti

Buffalo, N.Y., Jan. 4 – Senseonics Holdings Inc. drew the $10 million tranche 2 loan on Jan. 2 from its $50 million loan and security agreement with Hercules Capital, Inc. as administrative agent and collateral agent, according to an 8-K filed with the Securities and Exchange Commission.

As previously reported, the facility consists of an initial term loan of $25 million, which was funded at closing on Sept. 8, 2023, and two additional tranches of term loans in the amounts of up to $10 million and $15 million, respectively, which become available to Senseonics upon satisfaction of certain terms and conditions.

The loans under the agreement mature on Sept. 1, 2027.

Senseonics Holdings is a Germantown, Md.-based medical technology company.

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