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Axsome Therapeutics Enters $570 Million Term Loan and Revolving Credit Facility with Blackstone
Previous term loan facility retired NEW YORK, May 13, 2025 (GLOBE NEWSWIRE) -- Axsome Therapeutics, Inc. (NASDAQ: AXSM), a biopharmaceutical company leading a
About this update from Axsome Therapeutics, Inc.
[{"type":"text","content":"Previous term loan facility retired NEW YORK, May 13, 2025 (GLOBE NEWSWIRE) -- Axsome Therapeutics, Inc. (NASDAQ: AXSM), a biopharmaceutical company leading a new era in the treatment of central nervous system (CNS) disorders, today announced that it has entered into a $570 million term loan and revolving credit facility with funds managed by Blackstone Life Sciences and Blackstone Credit & Insurance (“Blackstone”). Concurrent with this new facility, Axsome has retired its previous term loan with Hercules Capital. The improved financial terms and expected use of the new facility are expected to result in a significant reduction in interest expense. “The new agreement with Blackstone simultaneously expands our total available credit facility by more than $200 million, and significantly reduces our cost of capital,” said Herriot Tabuteau, MD, Chief Executive Officer of Axsome Therapeutics. “We are pleased to partner with the Blackstone team given their differentiated expertise in the life sciences industry. The improved terms of the new facility underscore our commitment to accelerating time to profitability and enhancing shareholder value, while advancing our mission to improve the lives of patients living with serious CNS disorders.” “Blackstone is proud to partner with Axsome at a time of growth and expanding commercial opportunity,” said Craig Shepherd and Kiran Reddy, MD, Senior Managing Directors with Blackstone Life Sciences. “This investment is designed to reinforce the company’s operational and financial agility to support its next phase of growth, and it is a testament to Blackstone’s ability to deliver customized and flexible financing solutions to help leading biopharma companies achieve their strategic objectives.” Brad Colman, Global Head of Healthcare with Blackstone Credit & Insurance, added, “Axsome’s proven commercial success, innovative pipeline, and strong leadership team make it an ideal partner as we continue to invest in transformative therapies to help patients. This transaction exemplifies how we can provide scaled credit solutions to world-class life sciences companies.” The new $570 million facility consists of a $500 million term loan facility and a $70 million revolving credit facility. Upon closing of the agreement, the Company drew down a total of $120 million from the term loan facility which was us...