The US Bankruptcy Court gave an order approving the amendments to DIP financing agreement for Clovis Oncology, Inc. on March 13, 2023. As per the order, the debtor has been authorized to obtain a new money loan facility in an additional amount of $5.17 million from DIP lenders and DIP agent Top Iv Talents, Llc. The total DIP financing obtained by the debtor would now be in the amount of $80.17 million.

The additional DIP loan would carry an interest of 8% p.a. The DIP facility would mature either in 6 months following the Closing Date or on the date of termination of the New Money DIP Commitments or on dismissal of the Chapter 11 Cases or conversion of the Chapter 11 Cases into cases under chapter 7 of the Bankruptcy Code or on the effective date of the plan or on the date of consummation of the sale of substantially all assets, whichever is earlier.