In addition to $35 million of borrowings currently outstanding under the existing facility, the amended facility will:
Provide for $20 million of near-term loan commitments to be available, consisting of (i) a $10 million advance under a second tranche to be funded at the closing of the Second Amendment and (ii) a $10 million commitment under a third tranche available, with the closing expected to occur on May 6, 2026; and
Provide for up to an additional $85 million of future tranches of loan terms, subject to the satisfaction of certain terms and conditions and, with respect to the last $60 million uncommitted tranche, future lender investment committee approval.
Including the two near-term tranches, total debt outstanding under the Loan and Security Agreement will be approximately $55 million. With these funds, combined with the net proceeds from the Company's recent underwritten public equity offering, and the Company's cash and cash equivalents balance of approximately $64.6 million as of March 31, 2026, Senseonics anticipates that it has sufficient cash to fund operations into 2028. This does not include the additional borrowing capacity of up to $85 million under the amended agreement with Hercules.
"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. "Between this expanded agreement and the equity offering we just completed, we now have ample runway to get us to the anticipated launch of the Freedom product in 2028, while continuing to invest in the commercialization of Eversense 365 in both the US and ...
