The Oncology Institute Announces Amendment to Facility Agreement and Debt Paydown

Core Viewpoint - The Oncology Institute, Inc. (TOI) has amended its facility agreement with Deerfield Management Company, allowing for greater financial flexibility and a partial paydown of senior secured convertible notes [1][2][3]. Financial Agreement - Deerfield has waived certain restrictions on TOI's ability to offer and sell equity and removed the minimum cash covenant of $40 million [2]. - TOI has paid down approximately$20 million of the senior secured convertible notes along with accrued and unpaid interest [2]. Growth Initiatives - TOI has signed three new capitation agreements year to date, adding approximately 80,000 lives across California, Nevada, and Florida [3]. - The total lives under value-based agreements in Florida now exceed 200,000, with over 50,000 under Medicare Advantage [3]. Company Overview - Founded in 2007, TOI is a leading provider of value-based cancer care in the community setting, serving over 1.8 million patients [4]. - The company employs over 120 clinicians and has more than 700 teammates across over 70 clinic locations [4].