Theratechnologies Inc. announced that it has received a binding commitment with respect to a non-dilutive term loan with an affiliate of Marathon Asset Management for up to $100 million. All dollar amounts are expressed in U.S. dollars, unless otherwise stated. The facility is subject to the terms and conditions of a credit agreement.

Highlights of the agreement are as follows: senior secured term loan of up to $100 million available across multiple tranches, $40 million is expected to be funded on or before July 29, 2022, $20 million to be made available through June 2023, subject to the satisfaction of defined milestones, $15 million to be made available through March 2024 subject to the satisfaction of defined milestones, An additional $25 million will be available to Theratechnologies until December 2024 upon meeting certain defined milestones, The facility will have an initial term of five years provide for an interest-only period of 24 months, and bear interest at the secured overnight financing rate (SOFR) plus 9.50%, subject to a SOFR floor of 1.00%); and, The company has agreed to purchase $30 million of the principal amount of the convertible notes due June 2023, at a discount to par, in privately negotiated agreements with United States based noteholders, which are expected to close on or before July 29, 2022.