scPharmaceuticals gets $20 million loan at Libor plus 795 bps

By Wendy Van Sickle

Columbus, Ohio, Sept. 18 – scPharmaceuticals Inc. entered into a loan and security agreement for a four-year $20 million loan from Solar Capital Ltd. and Silicon Valley Bank on Tuesday, according to an 8-K filing with the Securities and Exchange Commission.

Borrowings bear interest at Libor plus 795 basis points.

The loan agreement replaces the company’s $10 million loan with the same lenders that was date May 23, 2017 and was repaid in connection with the new loan.

The Burlington, Mass.-based pharmaceutical company develops new therapies and technology that extend the reach of subcutaneously-infused therapies to at-home care.

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