CTI BIOPHARMA CORP. DRI Healthcare Trust announced that CTI BioPharma Corp. has prepaid all amounts outstanding under the credit facility it entered into with a wholly-owned subsidiary of the Trust, resulting in a USD 54.8 million prepayment, including principal, accrued interest and fees. The Trust provided USD 50 million in secured debt funding to CTI as part of the USD 135 million VONJOTM transaction, announced on August 25, 2021.
The loan prepayment was driven by Swedish Orphan Biovitrum's acquisition of CTI. As a result of the prepayment, the credit agreement between the Trust's wholly-owned subsidiary and CTI was terminated. The Trust maintains its royalty investment in VONJOTM pursuant to the purchase and sale agreement that was also announced on August 25, 2021.
