Full Press Release Details
Sight Sciences Announces the Closing of up to $65 Million Senior Secured Credit Facility with Hercules
Refinancing replaces prior senior credit facility
MENLO PARK, Calif. - January 23, 2024 - (GLOBE NEWSWIRE) Sight Sciences, Inc. (Nasdaq: SGHT) ( Sight Sciences ), an eyecare technology
company focused on developing and commercializing innovative technology intended to transform care and improve patients lives, today announced the closing of an up to $65 million senior secured credit facility with Hercules Capital, Inc.
(NYSE: HTGC) ( Hercules ), a leader in customized debt financing for companies in life sciences and technology-related markets. The transaction included the immediate draw of $35 million, the net proceeds of which the Company used to
pay off the principal amount of the Company s indebtedness to its previous secured lender.
This new facility further strengthens our balance
sheet and enhances our ability to execute our strategic plan, said Ali Bauerlein, Chief Financial Officer of Sight Sciences. We are excited to partner with the Hercules team and are pleased to extend our cash runway and expand financial
flexibility through the support and confidence of a leading growth medtech lender like Hercules. We feel Hercules is an ideal partner for us moving forward as we scale our business over the coming years.
This capital commitment from Hercules aims to help Sight Sciences deliver on its important mission to transform the treatment of eye diseases by
treating the underlying causes, said Lake McGuire, Managing Director at Hercules Capital. We are proud to partner with the Sight Sciences team and provide them with improved financial flexibility.
Key Credit Facility Terms:
The credit facility is secured by substantially all of
the Company s assets. Additional details regarding the Company s debt refinancing will be filed with the Securities and Exchange Commission on a Current Report on Form 8-K available at
investors.sightsciences.com.
About Sight Sciences
Sight Sciences is an eyecare technology company focused on developing and commercializing innovative solutions to transform care and improve patients
lives. Using minimally invasive or non-invasive approaches to target the underlying causes of the world s most prevalent eye diseases, Sight Sciences seeks to create more effective treatment paradigms
that enhance patient care and supplant conventional, outdated approaches. The Company s OMNI Surgical System is a MIGS technology indicated to reduce intraocular pressure in adult
patients with primary open-angle glaucoma ( POAG ), the world s leading cause of irreversible blindness. The Company s TearCare System technology is 510(k) cleared for the
application of localized heat therapy in adult patients with evaporative dry eye disease due to meibomian gland dysfunction ( MGD ) when used in conjunction with manual expression of the meibomian glands, enabling office-based clearance of
gland obstructions by physicians to address the leading cause of dry eye disease. The Company s SION Surgical Instrument is a manually operated device used in ophthalmic surgical
procedures to excise trabecular meshwork.
For more information, visit www.sightsciences.com.
OMNI, SION, and TearCare are registered trademarks of Sight Sciences, Inc.
Forward-Looking Statements
This press release, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements are subject to considerable risks and uncertainties. The Company intends such
forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor
provisions. Any statements made in this press release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. Forward-looking statements
herein include, without limitation, statements concerning the terms of the new secured credit facility with Hercules including the amount of available borrowings, and the Company s ability to expand its financial flexibility through the
utilization of the credit facility with Hercules. These statements often include words such as anticipate, expect, suggests, plan, believe, intend, estimates,
targets, projects, should, could, would, may, will, forecast and other similar expressions. We base these forward-looking statements on our current
expectations, plans and assumptions that we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under
the circumstances at such time. Although management believes these forward-looking statements are based upon reasonable assumptions at the time they are made, management cannot guarantee their accuracy or completeness. Forward-looking statements are
subject to and involve risks, uncertainties and assumptions that may cause the Company s actual results, performance or achievements to be materially different from any future results, performance, or achievements predicted, assumed or implied
by such forward-looking statements. Some of the risks and uncertainties that may cause actual results to materially differ from those expressed or implied by these forward-looking statements are discussed under the caption Risk Factors
in the Company s filings with the SEC, as may be updated from time to time in subsequent filings. These cautionary statements should not be construed by you to be exhaustive and are made only as of the date of this press release. Sight Sciences
undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.