By Devika Patel
Knoxville, Tenn., Dec. 9 – Adma Biologics, Inc. said it obtained an additional $15 million funding commitment for its senior secured term loan facility with Perceptive Advisors. The facility was announced on Feb. 12, 2020 and now has a total size of $100 million.
The terms of the additional $15 million are similar to the current credit facility, which has been amended to mature in March 2024 and now bears interest at 11%.
The loan previously was due March 1, 2022 and had a coupon of 7.5% plus the greater of one-month Libor and 350 basis points.
Perceptive also received warrants for 1.61 million shares, which are exercisable at a 115% premium.
Based in Ramsey, N.J., Adma is a late-stage biopharmaceutical company that develops, manufactures and intends to market plasma-based biologics to treat and prevent infectious diseases.
| Issuer: | Adma Biologics, Inc.
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| Issue: | Senior secured term loan facility
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| Amount: | $100 million
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| Maturity: | March 2024
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| Coupon: | 11%
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| Warrants: | For 1.61 million shares
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| Warrant strike price: | 115% premium
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| Investor: | Perceptive Advisors
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| Announcement dates: | Feb. 12, 2020; May 3, 2020; and Dec. 9
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| Distribution: | Private placement
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