Botanix Pharmaceuticals (ASX:BOT) Secures A$48M Debt Facility
Debt Facility Agreement
Botanix Pharmaceuticals Ltd (ASX:BOT) has established a debt facility of approximately A$48 million (US$30 million) with Kreos Capital. The facility includes an initial tranche of A$31 million and a second tranche of A$15.5 million available until 1 October 2026.
Use of Funds
Funds raised will support the working capital needs for the commercialisation of Sofdra™ topical gel and enable further platform expansion opportunities.
Financial Position
Following a recent capital raise of A$40 million and holding A$28 million in cash at the end of the last quarter, Botanix is well-funded to execute its commercialisation and development plans.
Executive Comments
Botanix Executive Chairman, Vince Ippolito, stated, “We are pleased to work with Kreos Capital in relation to the Facility and appreciate the opportunity to do business with one of the world’s leading debt providers with more than 25 years of experience.
“The flexibility provided by the Facility will allow us to make rapid decisions to support the acceleration of Sofdra sales and move quickly to expand the platform as opportunities present themselves over the coming year.”
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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