Senseonics Holdings Inc. (NASDAQ: SENS) entered into a second amendment to its loan agreement with Hercules Capital Inc. (NYSE: HTGC), increasing the maximum borrowing capacity from $100 million to $140 million.

The amended facility provides $20 million in near-term loan commitments, including a $10 million advance under a second tranche to be funded at the amendment's closing and a $10 million commitment under a third tranche expected to close on May 6, 2026. The agreement also allows for up to an additional $85 million in future tranches, subject to certain terms and conditions.

With $35 million currently outstanding under the existing facility and the two near-term tranches, total debt under the loan agreement will reach approximately $55 million. Combined with net proceeds from the company's recent equity offering and cash and cash equivalents of approximately $64.6 million as of March 31, 2026, Senseonics stated it has sufficient cash to fund operations into 2028.

"We are thrilled to expand our relationship with Hercules, who has been a terrific partner in helping us fund our commercial operations and pipeline development programs," said Rick Sullivan, Chief Financial Officer of Senseonics. The company plans to use the funding for the anticipated launch of the Freedom product in 2028 and continued investment in commercializing Eversense 365 in the US and Europe.

Michael McMahon, Managing Director of Hercules Capital, said the firm is "excited to be able to expand our financing relationship with Senseonics and continue to support their mission to transform lives in the global diabetes community."

The medical technology company focuses on glucose monitoring products, including its Eversense continuous glucose monitoring systems designed for diabetes management.