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Mar 16, 2026 8:10 AM

Outlook Therapeutics Announces New $18.4 Million Non-Convertible Note Financing and Amendment to Existing Convertible Note

ISELIN, N.J., March 16, 2026 (GLOBE NEWSWIRE) -- Outlook Therapeutics, Inc. (NASDAQ:OTLK), a biopharmaceutical company focused on enhancing the standard of care for bevacizumab for the treatment of retina diseases, today announced an amendment to its existing convertible note with Avondale Capital, LLC (the "Existing Note") and the issuance of a new non-convertible, unsecured note with Atlas Sciences, LLC (the "New Note").

Under the amendment to the Existing Note, the maturity date of the Existing Note has been extended to December 31, 2026, with no other changes to the terms. The lender has confirmed that the Existing Note is not in default.

In addition, Outlook Therapeutics entered into the $18.4 million New Note. The Company expects to receive $17 million in net proceeds, after original issue discount. Proceeds from the New Note will be used to pay down a portion of the Existing Note, reducing the balance and leaving approximately $10.8 million of principal and interest remaining on the Existing Note.

The New Note bears interest at a rate equal to the Prime Rate plus 3%, subject to a minimum interest rate of 9.5% per annum, and matures on June 16, 2027.

About Outlook Therapeutics, Inc.

Outlook Therapeutics is a biopharmaceutical company focused on the development and ...

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