Novocure (NVCR) Secures $400M Multi-Tranche Non-Dilutive Debt Financing

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Go back to Novocure (NVCR) Secures $400M Multi-Tranche Non-Dilutive Debt Financing

Novocure Secures New $400 Million Multi-Tranche Non-Dilutive Debt Financing from Pharmakon

May 2, 2024 7:01 AM EDT

Use of proceeds to fund working capital needs stemming from Novocures anticipated launch in non-small cell lung cancer and settle, upon maturity, Novocures convertible notes

ROOT, Switzerland--(BUSINESS WIRE)-- Novocure (NASDAQ: NVCR) announced today that it has entered into a new five-year up to $400 million committed senior secured credit facility with funds managed by Pharmakon Advisors, LP. The committed capital will be available to Novocure in four tranches of $100 million. The first $100 million was issued at closing, and the second $100 million will be issued by June 30, 2025. An additional $200... More