SENS · Senseonics Holdings, Inc.

Senseonics Holdings, Inc. entered into a Second Amendment to its existing Loan and Security Agreement with Hercules Capital and other lenders, significantly expanding its debt financing capacity. The amendment increases the total available senior secured term loans to $140.0 million, with $10.0 million funded at closing (Tranche 2 Loan) and an additional $10.0 million expected to fund simultaneously (Tranche 3A Loan). The remaining tranches (Tranche 3B, 4, and 5) are subject to the company meeting certain terms and conditions. The loans bear interest at a floating rate tied to the prime rate plus 2.40%, with a floor of 9.90%, and mature on September 3, 2029. Interest-only payments are required through October 1, 2028, or potentially through maturity if a specified milestone is achieved. Prepayment is allowed with fees ranging from 1.00% to 3.00% depending on timing. Additionally, the company will issue warrants to lenders upon funding of each tranche, exercisable for shares equal to 2.0% of the funded amount at a volume-weighted average price. This financing provides Senseonics with substantial capital to support its operations and growth initiatives, though it also introduces debt service obligations and potential dilution from warrant exercises.