DFX Intelligence
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Borrower
M••••••• C•••••••••
Biotechnologygroup grade Aon a schedule nowsponsor unattributed
Principal held
at least $228M
sum of BDC pieces, a lower bound
Fair value
$223M
99c on cost, debt pieces
Unfunded
$35.0M
commitments not yet drawn
BDC lenders
3
3 on the latest quarter
Facilities
3
1 equity pieces beside them
Next maturity
Aug 6, 2030
no dated debt inside 24 months
On the tape since
Mar 31, 2022
latest Jun 30, 2026
Events
3
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| delayed draw term loan lien unstated | at least $228M | 99c | S+475 bp | Aug 6, 2030 | 2 |
| other lien unstated exited Sep 30, 2025 | at least $52.5M | 100c | S+500 bp | Aug 6, 2030 | 3 |
| first lien term loan first lien exited Mar 31, 2024 | at least $9.8M | 100c | S+635 bp | Aug 1, 2025 | 1 |
Equity pieces beside the debt: equity ($146,000 fair value, 1 BDC)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated D•••••• D••• T••• L••• | n/a | n/a | S+475 bp |
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated N••••••••• I••••• | $88.8M | $86.7M 99c | S+475 bp |
| B••••••••• S•••••• L•••••• F••• | delayed draw term loan lien unstated D•••••• D••• T••• L••• | n/a | n/a | S+475 bp |
| B••••••••• S•••••• L•••••• F••• | delayed draw term loan lien unstated N••••••••• I••••• | $139M | $136M 100c | S+475 bp |
| M••••• F•••••••• I••••••••• C••• | equity equity C••••• Equity - C••••• S•••• | n/a | $146,000 |
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 | 3 | $228M | $223M | 99c | 0 |
| Mar 31, 2026 | 3 | $228M | $225M | 100c | 0 |
| Dec 31, 2025 | 3 | $228M | $225M | 100c | 0 |
| Sep 30, 2025 | 3 | $52.5M | $51.6M | 100c | 0 |
| Jun 30, 2025 | 1 | $0 | $0 | n/a | 0 |
| Mar 31, 2025 | 1 | $0 | $0 | n/a | 0 |
| Dec 31, 2024 | 1 | $0 | $0 | n/a | 0 |
| Sep 30, 2024 | 1 | $0 | $0 | n/a | 0 |
| Jun 30, 2024 | 1 | $0 | $0 | n/a | 0 |
| Mar 31, 2024 | 1 | $9.8M | $9.8M | 100c | 0 |
| Dec 31, 2023 | 1 | $11.6M | $11.6M | 100c | 0 |
| Sep 30, 2023 | 1 | $13.3M | $13.4M | 101c | 0 |
| Jun 30, 2023 | 1 | $13.9M | $13.9M | 101c | 0 |
| Mar 31, 2023 | 1 | $13.9M | $13.9M | n/a | 0 |
| Dec 31, 2022 | 1 | $27.7M | $27.4M | 199c | 0 |
| Mar 31, 2022 | 1 | $0 | $0 | n/a | 0 |
What changed
- New lender joined a facilitySep 30, 2025
- New lender joined a facilitySep 30, 2025
- Facility left every BDC scheduleSep 30, 2025
- Facility left every BDC scheduleMar 31, 2024
- Lender left a facilityMar 31, 2024
- New borrower on a BDC scheduleMar 31, 2022
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- MANNKINDderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived
- Industry
- Biotechnologyreportedas one filer wrote it