Mesoblast Limited announced a private placement of senior debt facility for gross proceeds of $90 million on November 21, 2021. The transaction included participation from funds managed by Oaktree Capital Management, L.P. Up to an additional $30 million may be drawn on or before December 31, 2022, subject to certain milestones. The facility has a three-year interest only period, at a rate of 9.75% per annum, after which time 40% of the principal amortizes over two years and a final payment due November 2026. The investor will also receive warrants to purchase 1,769,669 American Depositary Shares (ADSs)1 at $7.26 per ADS, a 15% premium to the 30-day VWAP. The warrants may be exercised within 7 years of issuance. On the same day, the company received $60 million in its first tranche.