Autolus enters $250 million notes facility with Perceptive Credit Holdings

Autolus Therapeutics plc entered into a Note Purchase Agreement and Guaranty on July 30, 2026, with certain of its subsidiaries as guarantors, noteholders, and Perceptive Credit Holdings V, LP acting as administrative agent for the noteholders.¹ The agreement provides for a senior secured notes facility of up to $250.0 million in aggregate principal.¹

On the closing date, the company issued a first tranche of $75.0 million, with the facility permitting up to an additional $175.0 million across three more tranches.¹ A second tranche of up to $25.0 million is available from the closing date through January 30, 2027.¹ A third tranche of up to $75.0 million becomes available if certain Consolidated Net Revenue levels are achieved before July 31, 2028, and a fourth tranche of up to $75.0 million becomes available upon meeting revenue thresholds before January 31, 2030.¹

The facility matures on July 30, 2031.¹ Interest accrues monthly at a rate combining an applicable margin of 6.75% to 7.25%, based on trailing twelve-month Consolidated Net Revenue, plus the greater of one-month term SOFR or 3.50%.¹ The agreement also requires Autolus to maintain minimum liquidity of $12.5 million to $50.0 million, depending on revenue and market capitalization thresholds, along with specified Consolidated Net Revenue minimums.¹

Alongside the notes, Autolus issued Perceptive a warrant to purchase up to 3,500,000 American Depositary Shares at an exercise price of $1.9314 per ADS, a 25% premium to the 30-day volume weighted average price before closing.¹ Additional warrants for up to 2,500,000 ADSs each will be issued upon the Tranche 3 and Tranche 4 note issuances.¹ All warrants expire July 30, 2036.¹

Autolus also agreed to file a registration statement covering resale of the warrant shares within 45 days of closing.¹