DFX Intelligence
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Borrower
I•••••• I••
Pharmaceuticals & Life Sciences Rate S+11.50%, 2.50% Floor (S+11.50% PIK)group grade Aon a schedule nowsponsor E•• C••••••• L•• inferred
Principal held
at least $61.0M
sum of BDC pieces, a lower bound
Fair value
$49.2M
94c on cost, debt pieces
Unfunded
$145,000
commitments not yet drawn
BDC lenders
4
2 on the latest quarter
Facilities
2
2 equity pieces beside them
Next maturity
Jul 17, 2026
$61.0M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
17
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien | at least $61.0M | 94c | Prime+1150 bp PIK 11.50% | Nov 5, 2026 | 3 |
| first lien revolver first lien exited Mar 31, 2026 | at least $1.2M | 109c | Prime+850 bp | Nov 5, 2026 | 1 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| C••• I••••••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D••• | $145,000 | $0 | |
| C••• I••••••••• C••• | unstated lien unstated | n/a | n/a | |
| C••• I••••••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D••• | $4.8M | $4.8M 103c | S+750 bp |
| C••• I••••••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D••• | $2.9M | $2.9M 103c | S+1150 bp |
| C••• I••••••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D••• | $31.6M | $27.6M 112c | S+750 bp |
| S••••• P•••• S•••••••• L•••••• F••• | term loan first lien 1st L•••/S•••••• L•••• I••••••••• 1st L••• T••• L••• I••••••• P••••••••• & L••• S••••••• R | $17.2M | $9.7M 61c | Prime+750 bp PIK 0.25% |
| S••••• P•••• S•••••••• L•••••• F••• | term loan first lien 1st L•••/S•••••• L•••• I••••••••• 1st L••• DIP I••••••• P••••••••• & L••• S••••••• R••• S+ | $4.3M | $4.2M 105c | SOFR+1150 bp PIK 11.50% |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2026 | 2 | $61.0M | $49.2M | 94c | 2 |
| Mar 31, 2026 | 3 | $37.3M | $31.3M | 85c | 1 |
| Dec 31, 2025 | 3 | $78.4M | $66.9M | 88c | 2 |
| Sep 30, 2025 | 4 | $49.4M | $41.0M | 86c | 2 |
| Jun 30, 2025 | 4 | $49.4M | $40.6M | 86c | 2 |
| Mar 31, 2025 | 4 | $50.0M | $40.9M | 86c | 2 |
| Dec 31, 2024 | 4 | $94.8M | $83.6M | 92c | 4 |
| Sep 30, 2024 | 4 | $45.6M | $39.5M | 90c | 2 |
| Jun 30, 2024 | 4 | $45.7M | $41.4M | 95c | 2 |
| Mar 31, 2024 | 4 | $46.1M | $43.7M | 99c | 2 |
| Dec 31, 2023 | 4 | $46.2M | $43.4M | 98c | 2 |
| Sep 30, 2023 | 3 | $28.3M | $27.3M | 97c | 1 |
| Jun 30, 2023 | 3 | $28.3M | $27.2M | 97c | 1 |
| Mar 31, 2023 | 3 | $28.3M | $27.3M | 98c | 0 |
| Dec 31, 2022 | 4 | $45.0M | $43.0M | 97c | 0 |
| Sep 30, 2022 | 1 | $16.4M | $13.7M | 98c | 0 |
| Dec 31, 2021 | 1 | $12.0M | $9.7M | 101c | 0 |
What changed
- Maturity approachingNov 5, 2026
- Maturity approachingNov 5, 2026
- Maturity approachingNov 5, 2026
- PIK interest increasedJun 30, 2026
- Mark recoveredJun 30, 2026
- Spread changed (observed)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Spread increasedJun 30, 2026
- PIK interest increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Facility left every BDC scheduleMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- PIK interest appearsMar 31, 2026
- Spread changed (observed)Dec 31, 2025
- Spread changed (observed)Dec 31, 2025
- Spread changed (observed)Sep 30, 2025
- Spread increasedSep 30, 2025
- Marked down across lendersMar 31, 2025
- Marked down (one lender)Mar 31, 2025
- Marked down (one lender)Mar 31, 2025
- Spread changed (observed)Dec 31, 2024
- Marked down (one lender)Dec 31, 2024
- Marked down (one lender)Sep 30, 2024
- Marked down (one lender)Jun 30, 2024
- Spread changed (observed)Mar 31, 2024
- Spread changed (observed)Dec 31, 2023
- PIK interest appearsDec 31, 2023
- PIK interest appearsJun 30, 2023
- Spread increasedJun 30, 2023
Sponsor
- E•• C••••••• L••
- Form D signer consensus, grade Bestimated"••• Locked"
- H••••••• W••••• M••••••••• I•••
- Form D signer consensus, grade Bestimated"••• Locked"
- E•• C••••••• L••
- Form D signer consensus, grade Bestimated"••• Locked"
Identity
- Group key
- INOTIVderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 4 BDCsderived
- Industry
- Pharmaceuticals & Life Sciences Rate S+11.50%, 2.50% Floor (S+11.50% PIK)reportedas one filer wrote it