Saluda Medical (ASX:SLD) drew the full $25 million from the second tranche of its credit facility with Perceptive Credit Holdings IV, according to a Wednesday filing with the Australian bourse.

In connection with the drawdown, Saluda issued a warrant to Perceptive to purchase 88,000 shares of its common stock at an exercise price of $17 each.

The company will use the second-tranche proceeds for general commercial and operating purposes. It said a third tranche of $25 million is available through the end of the year, subject to certain conditions.

Saluda Medical shares gained 3% in recent Wednesday trade.