Our Clients

• Transaction Overview
  • On July 16, 2024, Health Catalyst announced it has entered a five-year term loan facility for up to $225 million with Silver Point Capital, which consists of (i) an initial term loan facility of $125 million and (ii) a delayed draw term loan facility of $100 million
  • Company plans to use the net proceeds of the initial facility, together with cash on hand, to pre-fund its existing convertible notes due 2025 and other corporate purposes
  • Matthews South acted as capital markets advisor and Lazard acted as placement agent to Health Catalyst

• Matthews South Role
  • Matthews South provided Health Catalyst with ongoing analysis on its capital structure and considerations around pre-funding / refinancing its existing convertible notes
    • Assisted the company in making tradeoffs between debt retirement objectives, economic return and value of cash on balance sheet for financial flexibility
  • Understanding the objectives of Health Catalyst to raise money while limiting dilution, Matthews South recommended private credit as the most efficient solution for the company
    • Advised on desirability of convertibles and other alternative sources of capital in terms of size and terms available, including the dilutive impact of equity-linked alternatives based on current stock price

Additional Deals for Health Catalyst:

• April 2020: $200mm Convertible + Capped Call