TOI refinances $86M convertible debt with $75M OrbiMed term loan, extends maturity to 2031

Filed July 7, 2026 · Period ending July 1, 2026 · ~1 min read

Key Changes

• high

  Repaid $86M Deerfield convertible notes due 2027 using $75M OrbiMed term loan plus $11M cash, extending maturity to July 2031 without issuing equity.

  Item 1.01 verify on EDGAR →
• high

  New loan bears interest at SOFR (3.00% floor) plus 5.75%, with quarterly amortization starting July 2029 at 7.5% of principal per quarter plus repayment premium and exit fees.

  Item 1.01 verify on EDGAR →
• high

  Must maintain minimum trailing twelve-month revenue of $700M starting December 2027; loan includes extensive covenants limiting debt, dividends, asset sales, and M&A.

  Item 1.01 verify on EDGAR →