Mesoblast and Oaktree extend availability period of undrawn tranches of financing facility

On 23 December 2022, Mesoblast Limited (ASX: MSB) announced that funds managed by Oaktree Capital Management, L.P. have extended to MSB the availability of up to a further US$30.0 million of its US$90 million 5-year facility conditional on attaining certain milestones on or before 30 September 2023.

In November 2021, the Company drew the first tranche of US$60 million. The facility has a 3-year interest only period, at 9.75% per annum, after which time 40% of the principal amortizes over 2 years and a final payment due November 2026. In consideration for the milestone extension period, Oaktree will receive warrants to buying 455,000 American Depositary Shares 1 at US$3.70 per ADS, a 15% premium to the 30-day VWAP. The warrants may be exercised within 7 years of issuance.

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