Opus Genetics, Inc. 8-K

What Happened
Opus Genetics, Inc. announced it entered a Note Purchase Agreement on April 2, 2026, with OPCM SA LLC as purchaser agent and certain purchasers to issue up to $155 million of senior secured notes. The purchasers committed to $105 million of the facility (with $50 million uncommitted). The initial tranche of $35 million was funded and issued at par on April 21, 2026; these Initial Tranche Notes mature April 21, 2033.

Key Details

• Initial tranche funded: $35,000,000 issued at par on April 21, 2026.
• Total facility: up to $155,000,000; purchasers committed to $105,000,000, $50,000,000 uncommitted.
• Interest: floating rate based on Term SOFR (subject to a floor) plus an applicable margin; interest payable quarterly.
• Security and guarantees: Notes are secured by substantially all assets of the company and its subsidiaries and are guaranteed by certain subsidiaries.
• Acceleration: obligations may be accelerated on customary events of default (payment defaults, covenant breaches, insolvency events, specified material adverse events).

Why It Matters
This transaction provides Opus Genetics with immediate liquidity of $35M and access to up to $155M of debt financing if future tranches are funded, which can support operations, development programs, or other corporate needs. Because the notes are senior, secured, and guaranteed, they take priority over many other claims and add leverage to the company’s balance sheet. Investors should note the collateral and default provisions, the floating interest cost tied to Term SOFR, and that additional tranches depend on customary funding conditions and, in some cases, achievement of milestones.