Evolus, a performance beauty company with a customer-centric approach focused on delivering breakthrough products, has closed on a $100 million senior debt facility with Oxford Finance, a specialty finance firm that provides senior debt to life sciences and healthcare services companies.
The non-dilutive financing agreement provides Evolus with up to $100 million of borrowing capacity available in two tranches, each bearing interest at a minimum of 9.5% per annum. Under the terms of the agreement, an initial tranche of $75 million was funded at closing. Evolus is required to make interest only payments on a monthly basis through April 2022. An additional $25 million will be available at the company’s option, subject to certain conditions.
The entire senior debt facility will mature on March 1, 2024.
