Blueprint Medicines Corporation announced that it has entered into financing agreement for a private placement to issue senior secured term loan facility for gross proceeds of $400,000,000 on June 30, 2022. The Financing Agreement provides for a senior secured term loan facility of up to $150,000,000 and a senior secured delayed draw term loan facility of up to $250,000,000 to be funded in two tranches including a tranche A delayed draw loan in an aggregate principal amount of $100,000,000 and a tranche B delayed draw term loan in an aggregate principal amount of up to $150,000,000 tranche B delayed draw term loan, and together with the tranche A loan, the delayed draw term loans, and together with the term loans, The company may at any time request an incremental term loan in an amount not to exceed $260,000,000 on terms to be agreed and subject to the consent of the Lenders providing such incremental term loan. The term loans are expected to be funded on July 22, 2022.

The Tranche A Delayed Draw Term Loan will be requested no later than May 22, 2023, the tranche B delayed draw term loan may be requested no later than May 22, 2024, in each case, subject to customary terms and conditions, including, in the case of the tranche A delayed draw term loan, revenue from sales of AYVAKIT and BLU-263 outside of the CStone Territories of at least $115,000,000, measured as of the last day of the most recently ended four fiscal quarter period and in the case of the Tranche B Delayed Draw Term Loan, revenue from sales of AYVAKIT and BLU-263 outside of the CStone Territories of at least $200,000,000, measured as of the last day of the most recently ended four fiscal quarter period. The Loans will mature on June 30, 2028. Borrowings under the Financing Agreement bear interest at a variable rate equal to either the SOFR plus 6.50% or the base rate plus five and one half percent 5.50%, subject to a floor of 1% and 2% with respect to the SOFR and base rate, respectively.

In the event a loan is prepaid in whole or in part prior to the Maturity Date, the amount so prepaid or terminated will be subject to the following prepayment fees from the date the applicable loan is funded. Additionally, if a loan is prepaid in whole or in part prior to the Maturity Date, on or prior to the date that is 24 months after the applicable funding date, the amount so prepaid or terminated will be subject to an additional premium equal to the present value of the amount of interest that would have been required to be paid through the date that is 24 months after the applicable funding Date.