Bluebird Bio Secures Debt Financing - Quick Facts

(RTTNews) - bluebird bio, Inc. (BLUE) has entered into a $175 million five-year, term loan facility with Hercules Capital, Inc. (HTGC). The term loan facility provides for up to $175 million of term loans in aggregate, available in four tranches. Upon closing, the first tranche of $75 million was drawn. The company will be eligible to draw two additional tranches of $25 million each, subject to the achievement of commercial milestones.

bluebird bio said, based on launch trajectory and current business plans, and assuming three tranches totaling $125 million are executed, the transaction is expected to extend the company' cash runway through the first quarter of 2026.

Shares of bluebird bio are up 2% in pre-market trade on Monday.

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