aibioMindWalk signs binding $30 million credit facility term sheet
Tickers HYFT
MindWalk Holdings signed a binding term sheet with Sanabil (Cayman) for a revolving credit facility of up to $30 million at a fixed 7.00% annual rate. The definitive agreement is not yet signed.
Key facts
- Company
- MindWalk Holdings Corp. (NASDAQ: HYFT)
- News type
- Debt Financing
- Primary source
- MindWalk Holdings Corp. press release (Exhibit 99.1)
MindWalk Holdings Corp. (NASDAQ: HYFT) said on September 14, 2026 that it has entered into a binding commitment with Sanabil (Cayman) for a senior unsecured revolving credit facility of up to $30 million. The company said the facility is intended to support its biologics programs, commercial expansion, working capital and general corporate purposes.
The facility carries a fixed annual interest rate of 7.00%, which accrues only on amounts drawn. The initial term is 36 months, extendable by 12 months by agreement. MindWalk has no obligation to borrow and may repay drawn amounts without penalty. A one-time 1.00% opening fee applies, with no unused line fee.
According to the release, the facility includes no financial maintenance covenants, no warrants and no equity conversion feature, and requires no pledge of MindWalk assets. There is no material adverse change condition to closing. Sanabil (Cayman) is described as a private investment and structured finance firm based in George Town, Grand Cayman.
The term sheet is binding on both parties. MindWalk and the lender will negotiate a definitive credit agreement consistent with its terms, with a target closing within 60 days. MindWalk expects to file that agreement as a material contract exhibit.
Chief Executive Officer Jennifer Bath, PhD said in the release: "We chose debt over equity for a simple reason." The release names no placement agent or advisor for the facility.