08:34 AM EST, 12/18/2024 (MT Newswires) -- Esperion Therapeutics ( ESPR ) said Wednesday it has completed a series of financing agreements to repay a part of its current $265 million convertible debt facility.

The company said it obtained a $150 million senior term loan led by funds managed by Athyrium Capital Management and joined by funds managed by HealthCare Royalty. Esperion added that it also issued new $100 million convertible notes to accredited investors.

The new notes will mature on June 15, 2030, and will bear a semiannual interest payment, the company said.

Esperion said it intends to use the loan proceeds and roughly $60 million of the proceeds from the new notes to repay $210 million of the current convertible debt, while the remaining $40 million of the proceeds would be allocated as operating cash.