Oramed Pharmaceuticals Secures $101.9M Senior Secured Note Deal With Scilex
Oramed Pharmaceuticals Secures $101.9M Senior Secured Note Deal With Scilex
Oramed Pharmicals與Scilex達成1.019億美元優先擔保票據協議
- An initial principal balance of $101,875,000.00;
- A senior lien for Oramed on substantially all assets of Scilex and its subsidiaries, subject to certain exclusions;
- 18-month maturity;
- Certain mandatory prepayment obligations tied to future equity or debt financings of Scilex (subject to certain limitations specified in the Note);
- Interest rate per annum is equal to the SOFR plus 8.5% (and subject to a SOFR floor of 4.0%);
- Repayment of principal in installments will commence on December 21, 2023, with a fixed portion of the principal balance required to be repaid in three month increments thereafter. If the Note is not repaid in full on or prior to March 21, 2024, an exit fee equal to $3,056,250.00 becomes payable upon repayment of the Note in full;
- $2.91 million of expense reimbursement for Oramed; and
- The right for Oramed to designate an observer to Scilex's Board of Directors (and the boards or similar governing bodies of its subsidiaries). The right of Oramed to receive certain customary information relating to Scilex.
- 初始本金餘額101,875,000.00美元；
- Oramed對Scilex及其子公司的幾乎所有資產的高級留置權，但須受某些排除；
- 18個月期限；
- 與Scilex未來股權或債務融資相關的某些強制性提前還款義務(受附註中規定的某些限制的限制)；
- 年利率等於SOFR加8.5%(SOFR下限為4.0%)；
- 本金將於2023年12月21日開始分期償還，此後本金餘額的固定部分需分三個月遞增償還。如果票據沒有在2024年3月21日或之前全額償還，則在全額償還票據時應支付相當於3,056,250.00美元的退出費用；
- 向Oramed償還291萬美元的費用；以及
- Oramed有權向Scilex董事會(及其子公司的董事會或類似管理機構)指定觀察員。Oramed有權獲得與Scilex有關的某些習慣資訊。