Non - dilutive capital
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TG Therapeutics Secures an Additional $500 Million in Non-Dilutive Capital from Blue Owl and Expands Share Repurchase Program to $300 Million
Globenewswire· 2026-03-19 11:30
Core Insights - TG Therapeutics has secured a new five-year, $750 million senior secured credit facility with Blue Owl Capital, allowing for a net raise of $500 million in non-dilutive capital after repaying an existing $250 million facility [1][3] - The company has increased its share repurchase program from $100 million to $300 million, having repurchased approximately $38 million of common stock at an average price of $28.98 per share as of March 18, 2026 [2] Financial Position - The new credit facility enhances the financial position of TG Therapeutics with improved terms compared to the previous facility, providing substantial non-dilutive capital to support share repurchases and business development [3] - The total facility size can reach up to $1 billion, contingent upon mutual agreement between TG and Blue Owl [1] Strategic Initiatives - The expansion of the share repurchase program reflects the company's confidence in its business and commitment to long-term shareholder value [3] - TG Therapeutics continues to demonstrate strong commercial execution with its product BRIUMVI and maintains a disciplined approach to growth [3] Product Information - BRIUMVI is a novel monoclonal antibody targeting CD20-expressing B-cells, indicated for the treatment of adults with relapsing multiple sclerosis (RMS) [4][5] - The drug is designed to efficiently deplete B-cells at low doses through a process called glycoengineering [4] Company Overview - TG Therapeutics is a biotechnology company focused on developing and commercializing treatments for B-cell diseases, with BRIUMVI approved for RMS in the U.S. and several other countries [27] - The company aims to advance its pipeline while supporting the growth of BRIUMVI through strategic financial maneuvers [3][27]
enGene Announces Expanded $125 Million Debt Facility with Hercules Capital, Inc.
Businesswire· 2026-01-20 22:35
Core Viewpoint - enGene Holdings Inc. has amended its loan agreement with Hercules Capital to secure up to US$125 million in non-dilutive capital, enhancing its financial position [1]. Group 1 - enGene Holdings Inc. is a clinical-stage, non-viral genetic medicines company [1]. - The amendment to the loan and security agreement involves two of enGene's subsidiaries and Hercules Capital, Inc. as the agent [1]. - The additional capital is aimed at strengthening enGene's balance sheet [1].
Hut 8 Amends and Expands Bitcoin-Backed Credit Facility with Coinbase to $130 Million
Globenewswire· 2025-06-24 10:30
Core Viewpoint - Hut 8 Corp. has expanded its Bitcoin-backed credit facility from $65 million to up to $130 million, enhancing its capacity and lowering its cost of capital [1][2]. Group 1: Credit Facility Expansion - The amended credit facility reflects significant improvements in economic and structural terms, doubling the size of the facility and extending the maturity date to July 16, 2026 [1][2]. - The facility is expected to provide up to $65 million in incremental, non-dilutive capital, allowing the company to deploy capital against near-term growth opportunities [5]. Group 2: Financial Terms and Benefits - The conversion from a floating-rate structure to a fixed interest rate of 9.0% is designed to improve Hut 8's overall cost of capital, compared to previous rates ranging from 10.5% to 11.5% [5]. - The amended agreement includes enhanced collateral and borrower protections, such as a limited recourse structure and a no-rehypothecation covenant on pledged Bitcoin [5]. Group 3: Company Overview - Hut 8 Corp. operates as an energy infrastructure platform, integrating power, digital infrastructure, and compute at scale, primarily for Bitcoin mining and high-performance computing [3]. - The company manages 1,020 megawatts of energy capacity across 15 sites in the United States and Canada, including Bitcoin mining and high-performance computing data centers [3].