Medexus Announces US$51.0 million in New Credit Facilities and Intention to Commence Normal Course Issuer Bid, or NCIB, for its Common Shares

Core Viewpoint - Medexus Pharmaceuticals has announced a new senior secured credit agreement totaling US$51.0 million, which includes a US$21.0 million term loan and a US$5.0 million revolving loan facility, alongside plans to initiate a normal course issuer bid (NCIB) for its common shares [1][2][3]. Group 1: Credit Facilities - The new credit agreement includes a US$21.0 million term loan facility and a US$5.0 million revolving loan facility, with an additional US$10.0 million delayed draw feature for future licensing and acquisition transactions [1]. - The term loan facility has a maturity date of November 17, 2029, and the weighted average interest rate will initially be 6.74%, which is lower than the previous rate of 6.95% [2]. Group 2: Normal Course Issuer Bid (NCIB) - Medexus intends to commence an NCIB for its common shares, subject to approval from the Toronto Stock Exchange (TSX), allowing the company to purchase up to 10% of its public float over the next 12 months [3]. - The actual number of shares purchased under the NCIB will depend on market conditions and the company's discretion, with the aim of stabilizing the market for its common shares [4]. Group 3: Financial and Operational Outlook - The CFO of Medexus highlighted the significance of the new financing as a non-dilutive option that reflects the company's improving financial and operational profile since the launch of GRAFAPEX™ in February 2025 [2]. - The company is focused on capital allocation strategies that may include share repurchases if the market price is deemed undervalued, which could benefit both the company and its investors [4]. Group 4: Company Overview - Medexus is a leading specialty pharmaceutical company with a strong North American commercial platform, focusing on innovative treatments in hematology, hematology-oncology, rheumatology, and allergy [4].