The Oncology Institute enterted an agreement for the investment of $110 million from funds affiliated with Deerfield Management Company. The investment will support TOI’s ongoing growth.
TOI has agreed to issue Deerfield $110 million aggregate principal amount of 4% secured senior convertible notes. The notes will be secured by (i) a security interest in substantially all of the assets of TOI and its subsidiaries and (ii) a pledge by TOI of the equity interest of all its direct and indirect subsidiaries and mature on Aug. 9, 2027, unless earlier converted or redeemed, and are convertible into shares of TOI’s common stock. The notes have an initial conversion price of $8.567, representing an approximate premium of 30% over the closing price Aug. 8. Read more.
