Short answer
Oncology Institute, Inc. (TOI) filed an 8-K current report with the SEC on July 7, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement), Item 2.03 (Creation of a Direct Financial Obligation), Item 3.02 (Unregistered Sales of Equity Securities), Item 7.01 (Regulation FD Disclosure), Item EX-99.1 (Exhibit EX-99.1). $75M term loan drawn in full, maturing July 1, 2031.
Oncology Institute, Inc. 8-K event analysis
AI summary of each reported item and its exhibits
Item 1.01 · Entry into a Material Definitive Agreement
- $75M term loan drawn in full, maturing July 1, 2031
- Interest rate: higher of one-month SOFR or 3.00%, plus 5.75%
- Proceeds plus cash repaid approximately $86M of 4% convertible notes due 2027
- First-priority liens on substantially all company and guarantor assets increase lender protections
- $700M minimum trailing-twelve-month net revenue covenant begins December 31, 2027
Item 2.03 · Creation of a Direct Financial Obligation
- Item 2.03 indicates a direct financial obligation or off-balance-sheet arrangement
Item 3.02 · Unregistered Sales of Equity Securities
- Warrants issued to Deerfield Partners and affiliates as part of 2027 Convertible Notes repayment
- 10,025,535 common shares underlying warrants, creating substantial potential dilution
- Initial exercise price $8.567 per share; expiration August 9, 2027
- No upfront consideration received; issuance relied on Securities Act Section 4(a)(2) exemption
Item 7.01 · Regulation FD Disclosure
- Exhibit 99.1 furnished under Regulation FD, not deemed filed under Exchange Act Section 18
- Exhibit excluded from automatic incorporation into Securities Act filings unless specifically referenced
- No substantive operating, financial, or strategic disclosure in the provided text
Item EX-99.1 · Exhibit EX-99.1
- $86 million Deerfield convertible note repaid through $75 million OrbiMed term loan plus approximately $11 million cash
- New OrbiMed term loan matures in 2031, extending debt maturities and reducing near-term refinancing pressure
- Refinancing completed without additional equity, avoiding dilution for existing shareholders
- Balance-sheet cash declined approximately $11 million, while management expects improved liquidity and operating flexibility
- Financing supports TOI’s growth strategy, but future performance remains exposed to reimbursement, liquidity, and execution risks
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
Other Oncology Institute, Inc. 8-K filings
Get the next TOI 8-K as it lands
Follow TOI for push alerts, or ask the research agent what this filing means.