Disc Medicine secures $200M in debt financing from Hercules Capital
seekingalpha
09 Nov 2024
Disc Medicine (NASDAQ:IRON) has obtained a $200M non-dilute term loan facility from Hercules Capital (NYSE:HTGC).
Funding can support development across the portfolio, including the potential accelerated approval pathway for bitopertin in EPP.
The loan facility consists of up to four tranches, three of which can be drawn at Disc’s option and each maturing in November 2029.
An initial $30M tranche was funded at closing, with an additional $80M available to be drawn at Disc’s option. An additional $65M is available subject to Disc's achievement of specified performance milestones. The final $25M tranche is available for draw, at Disc’s option and subject to Hercules consent, during the interest-only period.
Shares of Disc Medicine rose 3% on Friday.
Source: Press Release
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