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.