The Investor
13 May 2025, 17:02
Axsome Therapeutics Secures $570 Million Credit Facility from Blackstone
Axsome Therapeutics (NASDAQ: AXSM) has entered a $570 million term loan and revolving credit agreement with funds managed by Blackstone Life Sciences and Blackstone Credit & Insurance. The deal retires Axsome’s prior term loan with Hercules Capital, significantly reducing the company’s interest expense and expanding its available credit by over $200 million.
The new credit facility includes a $500 million term loan and a $70 million revolving credit line, with $120 million drawn at closing to repay the earlier facility. Axsome may draw an additional $250 million at its discretion, with another $200 million subject to Blackstone approval. Terms include SOFR + 4.75% interest on the term loan and SOFR + 4.0% on the revolving facility, maturing in May 2030 with a 60-month interest-only period. Blackstone also purchased $15 million in Axsome stock at a 30-day VWAP of $107.14.
Axsome CEO Dr. Herriot Tabuteau highlighted the partnership’s role in accelerating profitability while advancing the company’s mission in CNS treatment. Blackstone executives emphasized Axsome’s strong pipeline and commercial execution as key to the investment.
Axsome Therapeutics (NASDAQ: AXSM) has entered a $570 million term loan and revolving credit agreement with funds managed by Blackstone Life Sciences and Blackstone Credit & Insurance. The deal retires Axsome’s prior term loan with Hercules Capital, significantly reducing the company’s interest expense and expanding its available credit by over $200 million.
The new credit facility includes a $500 million term loan and a $70 million revolving credit line, with $120 million drawn at closing to repay the earlier facility. Axsome may draw an additional $250 million at its discretion, with another $200 million subject to Blackstone approval. Terms include SOFR + 4.75% interest on the term loan and SOFR + 4.0% on the revolving facility, maturing in May 2030 with a 60-month interest-only period. Blackstone also purchased $15 million in Axsome stock at a 30-day VWAP of $107.14.
Axsome CEO Dr. Herriot Tabuteau highlighted the partnership’s role in accelerating profitability while advancing the company’s mission in CNS treatment. Blackstone executives emphasized Axsome’s strong pipeline and commercial execution as key to the investment.
