Outset Medical draws $66.5 million from term facility

By William Gullotti

Buffalo, N.Y., Jan. 2 – Outset Medical, Inc. drew $66.5 million from its loan and security agreement with SLR Investment Corp. as collateral agent on Tuesday, according to an 8-K filing with the Securities and Exchange Commission.

As previously reported Dec. 11, the recently amended agreement added $100 million of term B loans to the facility, available as about $33.5 million of term B-1 loans and $66.5 million of term B-2 loans.

Including the Jan. 2 drawdown, the outstanding balance is $200 million.

The facility matures Nov. 1, 2027.

San Jose, Calif.-based Outset is a medical technology company pioneering technologies to reduce the cost and complexity of dialysis.

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