Atea Pharmaceuticals, Inc. (AVIR) Form 8-K — Nov 9, 2026
Atea Pharmaceuticals entered a Loan and Security Agreement with Hercules Capital on November 6, 2026, providing up to $200.0 million in senior secured term loans maturing November 1, 2031, with $65.0 million drawn at closing. Subsequent tranches (Tranches 2-5) are conditioned on milestones including successful completion of Atea's ongoing Phase 3 trial of bemnifosbuvir/ruzasvir (BEM/RZR) by the second half of 2027, with Tranche 5 available solely at the lenders' discretion. The debt carries a floating rate of at least 9.35%, a 48-month interest-only period, and minimum cash and revenue covenants tested after FDA approval of BEM/RZR.
Key figures
- Debt Amount
- $200.0 million aggregate term loan facility ($65.0 million drawn at closing)
- Interest Rate
- Greater of WSJ prime + 2.35% or 9.35% (floating)
- Maturity Date
- November 1, 2031
- Tranche2 max
- up to $35.0 million (conditioned on Phase 3 BEM/RZR completion by H2 2027)
- Tranche5 max
- up to $30.0 million (lender sole discretion)
- Tranche1 drawn
- $65.0 million
- Interest only period
- 48 months, extendable to maturity
- Upfront fee at close
- $650,000
- Upfront fee subsequent tranches
- 1.00% of advances
AI analysis
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