Business
TherapeuticsMD Announces Amendment to Term Loan Financing Facility with TPG Sixth Street Partners
- Amendment revises draw trigger for $50 million loan tranche previously tied to ANNOVERATM designation - BOCA RATON, Fla.--(BUSINESS WIRE)-- TherapeuticsMD,
About this update from Therapeuticsmd, Inc.
[{"type":"text","content":"\n- Amendment revises draw trigger for $50 million loan tranche previously tied to ANNOVERATM designation -\n\n BOCA RATON, Fla.--(BUSINESS WIRE)--\nTherapeuticsMD, Inc. (NASDAQ: TXMD), an innovative, leading women’s healthcare company, today announced that the Company and TPG Sixth Street Partners (“Sixth Street”) have amended the terms of the Company’s existing term loan financing facility to revise the draw trigger for one of the two $50 million delayed draw loan tranches thereunder.\n\n\nThe terms of the amendment no longer require that ANNOVERA be designated as a new category of birth control by the U.S. Food and Drug Administration for the Company to draw the loan tranche. As amended, the $50 million loan tranche may be made available to the Company at Sixth Street’s sole and absolute discretion either contemporaneously with the delivery of the Company’s financial statements for the fiscal quarter ending June 30, 2020 or at such earlier date as Sixth Street may consent to.\n\n\nAll other terms and conditions of the facility remain in full force and effect, including the conditions for the Company to draw the other $50 million loan tranche thereunder upon the Company achieving $11 million in net revenues from IMVEXXY®, BIJUVA® and ANNOVERA for the fourth quarter of 2019. \n\n\n“We are pleased that our lenders continue to be supportive and demonstrate confidence in our business as we progress toward the full commercial launch of ANNOVERA in the first quarter of 2020,” said Robert G. Finizio, CEO of TherapeuticsMD.\n\n\nAbout TherapeuticsMD, Inc.\n\n\nTherapeuticsMD, Inc. is an innovative, leading healthcare company, focused on developing and commercializing novel products exclusively for women. Our products are designed to address the unique changes and challenges women experience through the various stages of their lives with a therapeutic focus in family planning, reproductive health, and menopause management. The company is committed to advancing the health of women and championing awareness of their healthcare issues. To learn more about TherapeuticsMD, please visit www.therapeuticsmd.com or follow us on Twitter: @TherapeuticsMD and on Facebook: TherapeuticsMD.\n\n\nAbout TPG Sixth Street Partners\n\n\nTPG Sixth Street Partners is a global finance and investment business with over $33 billion in assets under management. ...