Goodwin’s Debt Finance and Life Sciences teams advised Scholar Rock Holding Corporation (NASDAQ: SRRK) in connection with a six-year term loan facility for up to $550 million of capital from funds managed by Blue Owl Capital.
The non-dilutive debt financing consists of three tranches over eighteen months, including:
- A $100 million initial term loan funded at closing.
- A $100 million delayed draw term loan facility (DDTL), available in one draw at Scholar Rock’s discretion through March 2026.
- An additional $100 million DDTL, available in multiple draws at Scholar Rock’s discretion through September 2027.
- An additional $200 million uncommitted incremental facility, available in multiple draws at the mutual consent of Scholar Rock and the lenders.
The term loan facility contains market-leading terms for a company of Scholar Rock’s type and size, including, among others, flexibility for licensing, royalty monetization and collaboration transactions and favorable acquisition capacity.
Scholar Rock is a global biopharmaceutical company dedicated to dramatically improving the lives of children and adults with spinal muscular atrophy (SMA) and additional rare, severe, and debilitating neuromuscular diseases by applying its leading platform in myostatin biology to advance musculoskeletal health.
The Goodwin team was led by Kris Ring, Kingsley Taft, Tyler Garaffa, Shane Albright, Yasin Akbari, Sarah Ashfaq, Barry Bazian, Heath Ingram, Daniel Karelitz, Greg Larkin, Susan Lee, Anne Bandes, Kenneth Armstrong, Vernon Espninoza, Shlomo Gottesman, Annelise Wexner, Hallie Yoo and Sara Mackin.