Biodesix draws $10 million tranche B from Perceptive term agreement

By William Gullotti

Buffalo, N.Y., Dec. 20 – Biodesix, Inc. exercised its ability to draw the $10 million tranche B loan from its five-year term loan facility with Perceptive Advisors on Dec. 15, according to an 8-K filing with the Securities and Exchange Commission.

The facility, which matures Nov. 21, 2027, provides up to $50 million of term borrowings. Tranche A totals $30 million and was drawn Nov. 21, 2022. The $10 million tranche C loan remains available, subject to conditions and lender approval.

As reported at signing, Biodesix is responsible only for interest payments during the term. Interest will be one-month SOFR, subject to a floor of 3%, plus a margin of 900 basis points.

The draw also resulted in Perceptive receiving additional Biodesix warrants, exercisable for one million shares of the company’s common stock at an exercise price equal to $1.0648 per share. The tranche B warrants expire Dec. 15, 2033.

Biodesix is a Boulder-Colo.-based data-driven diagnostic solutions company and developer of diagnostic tests with a focus on lung disease.

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