Axsome Therapeutics, Inc. has entered into a significant $570 million term loan and revolving credit facility with Blackstone Inc., specifically with funds managed by Blackstone Life Sciences and Blackstone Credit & Insurance. This new financial arrangement includes a $500 million term loan facility and a $70 million revolving credit facility. The agreement comes with improved financial terms that are expected to substantially reduce Axsome's interest expenses. Concurrently, Axsome has retired its previous term loan with Hercules Capital by drawing down $120 million from the new term loan facility. The facility bears interest at a SOFR variable rate plus 4.75% for the term loan and SOFR variable rate plus 4.0% for the revolving credit facility, maturing in May 2030 with an interest-only payment period of 60 months. Blackstone also purchased $15 million of Axsome common stock at a price of $107.14 per share. This partnership is designed to enhance Axsome's financial agility and support its growth in the treatment of central nervous system disorders.
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