By Devika Patel
Knoxville, Tenn., Jan. 2 – OptiNose Inc. and its subsidiaries OptiNose US, Inc. and OptiNose AS priced $100 million of floating-rate senior secured notes due June 29, 2023 on Dec. 29, according to an 8-K filed with the Securities and Exchange Commission.
OptiNose US, Inc. will issue $50 million of the notes and OptiNose AS will issue $50 million of the notes.
Of the initial $75 million of issued on Dec. 29, $25 million was issued by OptiNose US, Inc. and $50 million was issued by OptiNose AS. The remaining $25 million will be issued by OptiNose US, Inc. between April 1, 2019 and Aug. 14, 2019.
The notes bear interest at Libor plus 900 basis points with a Libor floor of 1%.
Proceeds will be used to provide ongoing working capital for the company to support the launch and commercialization of Xhance (fluticasone propionate) nasal spray, 93 mcg, as well as for general corporate purposes.
OptiNose is a specialty pharmaceutical company based in Yardley, Pa.
| Issuer: | OptiNose US, Inc. (for $50 million) and OptiNose AS (for $50 million)
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| Issue: | Senior secured notes
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| Amount: | $100 million
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| Maturity: | June 29, 2023
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| Coupon: | Libor plus 900 bps, Libor floor of 1%
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| Trade date: | Dec. 29
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| Settlement dates: | Dec. 29 (for $75 million), between April 1, 2019 and Aug. 14, 2019 (for $25 million)
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| Distribution: | Private placement
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