Heron Therapeutics, Inc. announced on August 8, 2025, the completion of a comprehensive capital restructuring designed to enhance the company's financial flexibility and support long-term growth. The multi-faceted refinancing transaction is expected to close concurrently on August 12, 2025.
This restructuring successfully reduced Heron's total debt from $175 million to $145 million and extended debt maturities to at least 2030. Additionally, the transaction provided an estimated $11 million to $12 million in net cash to the company.
The proceeds from this refinancing were strategically utilized to retire prior convertible notes and Heron's working capital facility, while also providing additional working capital. CEO Craig Collard stated that this initiative strengthens the balance sheet, eliminates near-term debt maturities, and supports ongoing commercial execution and pipeline priorities.
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