Autolus Therapeutics plc filed a Form 8-K on July 30, 2026, disclosing that it entered into a senior secured notes Facility of up to $250.0 million with Perceptive Credit Holdings V, LP as administrative agent, and simultaneously issued warrants to purchase up to 3,500,000 American Depositary Shares.

Key Highlights

  • Facility size: The Note Purchase Agreement provides for a senior secured notes facility in an aggregate principal amount of up to $250.0 million.
  • First Tranche drawn: On July 30, 2026, the company issued Tranche 1 Notes in an aggregate principal amount of $75.0 million.
  • Maturity date: The Notes Facility matures on July 30, 2031, with no scheduled principal payments prior to that date.
  • Interest Rate : The facility accrues interest at an applicable Margin of 6.75% to 7.25% plus the greater of one-month term SOFR or 3.50%, payable monthly in arrears.
  • Warrants issued: Perceptive received a Warrant to purchase up to 3,500,000 ADSs at an exercise price of $1.9314 per ADS, representing a 25% premium to the 30-day Volume weighted average sale price.
  • Minimum Liquidity covenant: The company must maintain a Minimum Liquidity Amount ranging from $12.5 million to $50.0 million depending on certain Consolidated Net Revenue and market Capitalization thresholds.

Autolus Enters Multi-Tranche Debt Facility and Issues Warrants to Perceptive

According to the filing, Autolus Therapeutics plc ( Nasdaq : AUTL) entered into a Note Purchase Agreement and Guaranty on July 30, 2026 with Perceptive Credit Holdings V, LP as administrative agent. The facility allows the company to issue up to $250.0 million in senior secured notes across four tranches. The first tranche of $75.0 million was drawn on the closing date. A second tranche of up to $25.0 million is available through January 30, 2027. The third and fourth tranches, each of up to $75.0 million, become available upon the company achieving certain Consolidated Net Revenue levels prior to July 31, 2028, and January 31, 2030, respectively.

The filing states that the notes bear interest at an annual rate equal to an applicable margin of between 6.75% and 7.25%, based on trailing twelve-month Consolidated Net Revenue, plus the greater of one-month term SOFR or 3.50%. In the event of a default, the interest rate would increase by an additional 4.00% per annum. Early Redemption prior to the maturity date is permitted but subject to a premium ranging from 1% to 8%. The company's obligations are secured by a first priority perfected security interest on substantially all existing and after-acquired Assets of the company and its Subsidiary guarantors, the filing disclosed.

In connection with the facility, the filing states the company issued Perceptive a warrant to purchase up to 3,500,000 ADSs at $1.9314 per ADS. Additional warrants for up to 2,500,000 ADSs per tranche may be issued upon drawdown of Tranche 3 and Tranche 4 Notes. All warrants expire July 30, 2036 and may be exercised on a cashless basis. The filing also notes that the company entered into a Registration Rights Agreement requiring it to file a registration statement with the SEC no later than 45 calendar days following the closing date.

What Was Disclosed

Autolus Therapeutics disclosed the entry into a $250.0 million senior secured notes facility with Perceptive as agent, the issuance of $75.0 million in first-tranche notes, associated warrant issuances, and a Registration Rights Agreement, all dated July 30, 2026.