Karyopharm Announces Significant Refinancing Transactions and Amended Royalty Agreement

Karyopharm Announces Significant Refinancing Transactions and Amended Royalty Agreement

Client News

On May 8, 2024, Karyopharm Therapeutics Inc. (Nasdaq: KPTI), a commercial-stage pharmaceutical company pioneering novel cancer therapies, announced that it has entered into a series of financing transactions that will extend Karyopharm's debt maturities into 2028 and 2029, well beyond its planned Phase 3 data readouts in 2025. 

Karyopharm entered into privately negotiated agreements with its top four holders of its outstanding convertible notes, resulting in approximately $148.0 million (86%) of the existing convertible notes due in 2025 to be exchanged for $111.0 million of new convertible notes due in 2029. In addition, Karyopharm has entered into a new $100.0 million first lien senior secured term loan facility. The company has also reduced obligations under and amended its royalty agreement with HealthCare Royalty.

The WilmerHale team advising Karyopharm was led by George Shuster, Nathan Moore, Glenn Pollner and Jason Kropp and included Craig Hilts, Andrew Langworthy, Jana Lama, Kevin Cheng, Amy O’Connell and Michaela Rosen.

Read the full press release.


Unless you are an existing client, before communicating with WilmerHale by e-mail (or otherwise), please read the Disclaimer referenced by this link.(The Disclaimer is also accessible from the opening of this website). As noted therein, until you have received from us a written statement that we represent you in a particular manner (an "engagement letter") you should not send to us any confidential information about any such matter. After we have undertaken representation of you concerning a matter, you will be our client, and we may thereafter exchange confidential information freely.

Thank you for your interest in WilmerHale.