Verrica Pharmaceuticals closes credit facility for up to $27.5 million with entity controlled by Chairman Paul Manning

Reuters2026/08/06 20:02

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Verrica closed a credit facility of up to USD 27.5 million with an entity controlled by Paul B. Manning.
USD 12.5 million available immediately; another USD 15 million unlocks on revenue, growth, operational milestones.
Interest set at 1-month SOFR + 8% with a 4.5% SOFR floor; interest payable in kind.
Matures Dec. 31, 2030; no scheduled interest or principal payments until maturity absent a default.
Secured by substantially all assets; proceeds earmarked for YCANTH commercialization, Phase 3 common warts program, corporate purposes.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Verrica Pharmaceuticals Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202608061601PRIMZONEFULLFEED9805527) on August 06, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Verrica Pharmaceuticals closes credit facility for up to $27.5 million with entity controlled by Chairman Paul Manning

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