Ardelyx Inc. has announced a significant financial update with the entry into a Fifth Amendment to its Loan and Security Agreement, dated June 30, 2025. The amendment facilitates an immediate draw of $50 million, termed as the Term E Loan, with an interest rate of 4.00% plus additional rates tied to the 1-month SOFR reference rate. Additionally, Ardelyx has the option to access up to $100 million more through two Incremental Term Loans, each amounting to $50 million, with a 4.95% interest rate plus the 1-month SOFR reference rate. The maturity date for the Term E Loan is set for July 1, 2028, while the Incremental Term Loans mature on July 1, 2030. The company will initially make interest-only payments on these loans until their respective maturity dates. This financial maneuver is expected to strengthen Ardelyx's financial position and flexibility.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.