Business
Amends Senior Secured Debt Financing
Shield Therapeutics plc has amended its senior secured debt financing with SWK Holdings Corporation and the addition of Runway Growth Finance Corp, increasing the available funds to $50 million, including $15 million for future M&A. The loan facility maintains its original maturity date of September 28, 2028, but extends the interest-only period to 15 quarters and reduces the interest rate to 3 Month CME Term SOFR + 8.75% with a lower SOFR floor of 3.5%, effective January 15, 2026. Shield will pay a 0.5% origination fee and a 5% exit fee on incremental funds drawn above $20 million, and will issue warrants to Runway representing 5% of any incremental capital drawn. The company has drawn an additional $2 million, bringing the total debt outstanding to $22 million, and has lowered its minimum liquidity covenant. Disclaimer*
About this update from Shield Therapeutics Plc
[{"type":"text","content":"\n\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 (as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018). Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.\n \nShield Therapeutics plc\n(\"Shield\" or the \"Company\" or the \"Group\")\n \nAmends Senior Secured Debt Financing with improved terms\n \nAvailable funds of up to $50 million including $15 million towards future M&A transactions\n \nLondon, UK, December 3, 2025: Shield Therapeutics plc (LSE: STX), a commercial-stage pharmaceutical company specialising in iron deficiency announces the amendment of its senior term debt financing. This strategic financial update, executed through SWK Holdings Corporation (\"SWK\") with improved terms and the addition of Runway Growth Finance Corp. (\"Runway\") to the lending syndicate, strengthens the Company's financial position by lowering debt related costs and provides flexibility to drive further growth and explore suitable M&A opportunities.\n \nThe revised term extends the loan facility from $20 million to up to $50 million including $15 million to be made available for future M&A opportunities and a $10 million accordion feature. The original maturity date of 28 September 2028 is maintained, while the interest only period has been extended to 15 quarters compared to 9 quarters from the original close of Q4 2023. The interest rate will be reduced, beginning 15 January 2026, to 3 Month CME Term SOFR (\"SOFR\") + 8.75% compared to the prior interest rate of SOFR + 9.25%. Further, the SOFR is subject to a floor of 3.5%, reduced from the original floor of 5%. Shield will be required to pay an origination fee of 0.5%, and an exit fee of 5% only on incremental funds drawn from the additional capital of $30 million made available to Shield. Shield will grant Runway warrants to acquire new ordinary shares that will represent 5% of any incremental capital drawn down by the Company above $20 million. As a part of the amendment, Shield will draw an additional $2 million of the total available funds bringing the total debt...