Arcutis Biotherapeutics’ $225 Million Non-Dilutive Debt Financing

Latham & Watkins represented Arcutis in the transaction.

Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT), a late-stage biopharmaceutical company focused on developing novel innovations in immuno-dermatology, has announced that it has obtained a US$225 million term loan facility from funds managed by SLR Capital Partners (SLR). 

Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT) is a medical dermatology company that champions meaningful innovation to address the urgent needs of patients living with immune-mediated dermatological diseases and conditions. With a commitment to solving the most persistent patient challenges in dermatology, Arcutis harnesses our unique dermatology development platform coupled with our dermatology expertise to build differentiated therapies against biologically validated targets.

SLR Capital Partners, LLC is an SEC-registered investment adviser that primarily invests directly in leveraged, U.S. middle market companies in the form of cash flow and asset-based senior secured investments. SLR Capital Partners manages over $8 billion of investable capital, including serving as the investment adviser to two publicly-traded business development companies, SLR Investment Corp. and SLR Senior Investment Corp.

Latham & Watkins represented Arcutis with a transactional team led by Bay Area finance partner Haim Zaltzman, with associates Ramin Montazeri and Hyunji Lee. Advice was also provided on corporate matters by Bay Area partner Brian Cuneo, with associate Ross McAloon; on public company financing matters by New York partner Reza Mojtabaee-Zamani, with associate Eric Rice; on regulatory matters by Washington, D.C. partner Ben Haas and Bay Area counsel Betty Pang, with associate Chad Jennings; on intellectual property matters by Bay Area partner Chris Hazuka; and on tax matters by Bay Area partner Grace Lee, with associate Derek Gumm.

Involved fees earner: Brian Cuneo – Latham & Watkins; Derek Gumm – Latham & Watkins; Benneville Haas – Latham & Watkins; Christopher Hazuka – Latham & Watkins; Chad Jennings – Latham & Watkins; Hyunji Lee – Latham & Watkins; Grace Lee – Latham & Watkins; Ross McAloon – Latham & Watkins; Reza Mojtabaee-Zamani – Latham & Watkins; Ramin Montazeri – Latham & Watkins; Betty Pang – Latham & Watkins; Eric Rice – Latham & Watkins; Haim Zaltzman – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: Arcutis Biotherapeutics, Inc.;