Cerus Corporation Closes New Debt Facility of Up to $110 Million

Key Terms

term loan financial

A term loan is a type of loan that is borrowed for a set period of time, with a fixed schedule for repaying the money, usually in regular payments. It matters to investors because it represents a company's borrowing costs and financial stability; reliable repayment of these loans can indicate strong financial health, while difficulties may signal potential risks.

asset-backed revolving loan financial

An asset-backed revolving loan is a credit line a company can draw, repay and draw again that is secured by a pool of assets such as invoices, inventory or other receivables. Think of it like a business credit card backed by items on a shelf: the available borrowing rises and falls with the value of those assets. Investors watch it because it directly affects a firm's short-term cash, borrowing cost and risk of needing extra capital if the assets lose value.

tranche financial

A tranche is one slice of a larger financing or investment that is released, sold, or paid out in separate parts rather than all at once. Investors care because each slice can carry different risk, return and timing—like buying pieces of a cake where some slices are richer or come later—so the specific tranche you hold affects when you get paid and how much you might gain or lose.

amortization financial

Amortization is the process of spreading a large cost over a series of future periods, either by gradually writing off the value of an intangible asset (like a patent or license) or by showing how loan principal is paid down over time. For investors it matters because amortization affects reported profits and cash flow — similar to slicing a big bill into smaller monthly payments — and therefore influences valuations, comparisons between companies, and expectations for future earnings.

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Refinancing extends maturity and lowers cost of capital

Enhances financial flexibility and positions Cerus to drive sustainable growth

Anticipated annual cash interest expense savings of up to $3.5 million

CONCORD, Calif.--(BUSINESS WIRE)-- Cerus Corporation (Nasdaq: CERS) announced today the closing of a new debt facility with MidCap Financial (MidCap), providing up to $110 million. The facility consists of a 5-year term loan and an asset-backed revolving loan.

The refinancing is expected to reduce annual cash interest expense by up to $3.5 million, reflecting lower borrowing costs and an approximately $30 million reduction in outstanding term loan balance. Initial proceeds from the loan, together with cash on hand, were used to retire Cerus’ existing $65 million term loan facility with MidCap.

“This refinancing marks another important milestone in strengthening our financial foundation,” said Kevin Green, Cerus’ chief financial officer. “The flexibility and increased borrowing capacity, extended maturities, and lower cost of capital provide us with greater financial optionality to support sustainable growth, improve our bottom line and execute our long-term strategic priorities.”

The initial $35 million tranche was funded at closing, with up to an additional $30 million available in $5 million increments over the term of the facility. Amortization of the term loan is deferred for 48 months, followed by 12 months of straight line amortization. The facility may be prepaid at any time in increments of $5 million. In addition, Cerus entered into a new, 5-year revolving loan agreement up to $45 million, which provides improved terms, increased capacity and enhanced flexibility to support anticipated growth of the global commercial business.

ABOUT CERUS

Cerus Corporation is dedicated solely to safeguarding the world’s blood supply and aims to become the preeminent global blood products company. Headquartered in Concord, California, the company develops and supplies vital technologies and pathogen-protected blood components to blood centers, hospitals, and ultimately patients who rely on safe blood. The INTERCEPT Blood System for platelets and plasma is available globally and remains the only pathogen reduction system with both CE mark and FDA approval for these two blood components. In the U.S., the INTERCEPT Blood System for Cryoprecipitation is approved for the production of Pathogen Reduced Cryoprecipitated Fibrinogen Complex (commonly referred to as INTERCEPT Fibrinogen Complex), a therapeutic product for the treatment and control of bleeding, including massive hemorrhage, associated with fibrinogen deficiency. The INTERCEPT red blood cell system is under regulatory review in Europe, and in late-stage clinical development in the U.S. For more information about Cerus, visit www.cerus.com and follow us on LinkedIn.

About MidCap Financial

MidCap Financial is a middle-market focused, specialty finance firm that provides senior debt solutions to companies across all industries. As of December 31, 2025, MidCap Financial provides administrative or other services for over $62 billion of commitments. MidCap Financial is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management, Inc, pursuant to an investment management agreement. Apollo had assets under management of approximately $908 billion as of September 30, 2025. For more information about MidCap Financial, please visit www.midcapfinancial.com. For more information about Apollo, please visit www.apollo.com.

Cerus, INTERCEPT, and the Cerus logo are trademarks of Cerus Corporation.

Forward-Looking Statements

Except for the historical statements contained herein, this press release contains forward-looking statements concerning Cerus’ products, prospects, financial condition and expected results, including statements relating to: the expected benefits of the refinancing transaction with MidCap; anticipated reductions in annual cash interest expense and borrowing costs; Cerus’ expected future liquidity, capital resources and financial flexibility; the availability of future borrowings under the new term loan and revolving credit facilities; Cerus’ ability to support sustainable growth, improve operating performance and execute its long-term strategic priorities; the commercialization and market adoption of Cerus’ products; and other statements that are not historical fact. Actual results could differ materially from these forward-looking statements as a result of certain factors, including, without limitation: risks associated with Cerus’ ability to realize the anticipated benefits of the refinancing transaction, including (a) risks that Cerus may not achieve expected reductions in interest expense or borrowing costs, (b) risks associated with Cerus’ ability to access additional borrowing capacity under the financing arrangements, and (c) risks associated with compliance with the terms, covenants and conditions of the financing arrangements; risks associated with the commercialization and market acceptance of, and customer demand for, the INTERCEPT Blood System and IFC; the risk that Cerus may not grow sales globally, including in its U.S. and European markets, and/or realize expected revenue contributions resulting from its U.S. and European market agreements; risks related to the uncertain and time-consuming development and regulatory process, including the risk that Cerus may be unable to obtain requisite regulatory approvals to advance its pipeline programs and bring them to market in a timely manner or at all; risks associated with macroeconomic developments, including ongoing military conflicts, new or increased tariffs and escalating trade tensions, inflation, rising interest rates and foreign exchange volatility and the resulting global economic and financial disruptions; risks related to Cerus’ ability to demonstrate to the transfusion medicine community and other healthcare constituencies that pathogen reduction and the INTERCEPT Blood System are safe, effective and economical; risks related to product safety; risks associated with Cerus’ ability to maintain an effective, secure manufacturing supply chain, including risks that (a) Cerus’ supply chain could be negatively impacted as a result of macroeconomic developments, (b) Cerus’ manufacturers could be unable to comply with extensive regulatory agency requirements, and (c) Cerus may be unable to maintain its supply agreements with its third-party suppliers; risks associated with Cerus’ need for additional funding; risks associated with the impact of legislative or regulatory healthcare reforms that may make it more difficult and costly for Cerus to produce, market and distribute its products; as well as other risks detailed in Cerus’ filings with the Securities and Exchange Commission, including under the heading “Risk Factors” in Cerus’ Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026, filed with the Securities and Exchange Commission on April 30, 2026, and in Cerus’ subsequent filings with the Securities and Exchange Commission. Cerus disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260608628365/en/

Tim Lee – Head of Investor Relations
Cerus Corporation
ir@cerus.com
925-288-6128

Source: Cerus Corporation