aibioHeron Therapeutics extends Hercules loan maturity to as late as September 1, 2027
Tickers HRTX
The later date applies only if none of the company's 1.5% convertible notes due May 24, 2026 remain outstanding. Otherwise the loan comes due earlier.
Key facts
- Company
- Heron Therapeutics, Inc. (NASDAQ: HRTX)
- News type
- Debt Financing
- Primary source
- Heron Therapeutics, Inc. 8-K (2025-02-20)
Heron Therapeutics, Inc. has amended its Working Capital Facility Agreement with Hercules Capital, Inc. to push back the loan's maturity date, the company said in a filing dated February 20, 2025.
The first amendment, signed on February 13, 2025, sets the maturity as the earlier of September 1, 2027 or a date tied to the company's 1.5% Convertible Senior Notes due May 24, 2026. Convertible notes are debt that the holder can turn into shares.
If any of those notes are still outstanding, the loan instead comes due on May 12, 2026. If the maturity of the notes is extended before May 12, 2026 to August 11, 2026 or later, the loan comes due ninety-one days before the extended note maturity date.
The original loan agreement is dated August 9, 2023. Hercules Capital acts as administrative agent and collateral agent for the lenders.