Senseonics Enters Into Amended Loan Agreement with Hercules to Increase Borrowing Capacity to $140 Million
GERMANTOWN, Md., May 04, 2026 (GLOBE NEWSWIRE) -- Senseonics Holdings, Inc. (NASDAQ:SENS) a medical technology company focused on the design, development and commercialization of glucose monitoring products designed to transform lives in the global diabetes community, announced that it has entered into a Second Amendment to the Loan and Security Agreement with Hercules Capital, Inc. (NYSE:HTGC). The Second Amendment increases the maximum borrowing capacity under the existing facility from $100 million to $140 million.
In addition to $35 million of borrowings currently outstanding under the existing facility, the amended facility will:
- Provide for $20 million of near-term loan commitments to be available, consisting of (i) a $10 million advance under a second tranche to be funded at the closing of the Second Amendment and (ii) a $10 million commitment under a third tranche available, with the closing expected to occur on May 6, 2026; and
- Provide for up to an additional $85 million of future tranches of loan terms, subject to the satisfaction of certain terms and conditions and, with respect to the last $60 million uncommitted tranche, future lender investment committee approval.
Including the two near-term tranches, total debt outstanding under the Loan and Security Agreement will be approximately $55 million. With these funds, combined with the net proceeds from the Company's recent underwritten public equity offering, and the Company's cash and cash equivalents balance of approximately $64.6 million as of March 31, 2026, Senseonics anticipates that it has sufficient cash to fund operations into 2028. This does not include the additional borrowing capacity of up to $85 million under the amended agreement with Hercules.
"We are thrilled to expand our relationship with Hercules, who has been a terrific partner in helping us fund our commercial operations and pipeline development programs," said Rick Sullivan, Chief Financial Officer of Senseonics. "Between this expanded agreement and the equity offering we just completed, we now have ample runway to get us to the anticipated launch of the Freedom product in 2028, while continuing to invest in the commercialization of Eversense 365 in both the US and Europe. We look forward to a continued fruitful partnership with Hercules as we achieve additional milestones, including completion of the Gemini pivotal trial and eventual commercial launch, the commencement of a Freedom pivotal trial, and the expansion of Eversense 365 compatibility with additional AID systems."
"Hercules is excited to be able to expand our financing relationship with Senseonics and continue to support their mission to transform lives in the global diabetes community with differentiated, long-term implantable glucose management technology," said Michael McMahon, Managing Director of Hercules Capital.
About Eversense
Eversense 365 is developed by Senseonics and, as the only implantable CGM available, offers patients a truly differentiated CGM experience, providing One Year of exceptionally accurate monitoring with minimal interruptions. It benefits endocrinologists and care teams by offering their patients confidence in decision-making, long-term peace of mind and enhanced quality of life with just one CGM. The unique approach also allows people to overcome common frustrations and interruptions experienced with traditional, short-term CGMs, so that patients can focus on managing their diabetes and not their CGM.
The Eversense® Continuous Glucose Monitoring (CGM) Systems are indicated for continually measuring glucose levels for up to 365 days for Eversense® 365 and 180 days for Eversense® E3 in persons with diabetes age 18 and older. The systems are indicated for use to replace fingerstick blood glucose (BG) measurements for diabetes treatment decisions. Fingerstick BG measurements are still required for calibration primarily one time per week after day 14 for Eversense® 365 and one time per day after day 21 for Eversense® E3, and when symptoms do not match CGM information or when taking medications of the tetracycline class. The sensor insertion and removal procedures are performed by a health care provider. The Eversense CGM Systems are prescription devices; patients should talk to their health care provider to learn more. For important safety information, see https://www.eversensediabetes.com/safety-info/.
About Senseonics
Senseonics Holdings, Inc. ("Senseonics") is a medical technology company focused on the design, development and commercialization of glucose monitoring products designed to transform lives in the global diabetes community with differentiated, long-term implantable glucose management technology. Senseonics' CGM systems Eversense® 365 and Eversense® E3 include a small sensor inserted completely under the skin that communicates with a smart transmitter worn over the sensor. The glucose data are automatically sent every 5 minutes to a mobile app on the user's smartphone.
Forward-Looking Statements
Any statements in this press release about future expectations, plans and prospects for Senseonics, including statements regarding the availability and timing of future tranches under the amended Loan and Security Agreement, the satisfaction of conditions to future borrowings and lender investment committee approval, anticipated total debt outstanding, the sufficiency of cash to fund operations into 2028, the anticipated launch of the Freedom product in 2028, continued investment in the commercialization of Eversense 365 in the US and Europe, the completion of the Gemini pivotal trial and eventual commercial launch, the commencement of a Freedom pivotal trial, the expansion of Eversense 365 compatibility with additional AID systems, and other statements containing the words "believe," "expect," "intend," "may," "projects," "will," "planned," "anticipates," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: risks and uncertainties related to Senseonics' ability to satisfy conditions for funding of future tranches of borrowing under the amended credit facility with Hercules, uncertainties related to the transition of commercial activities from Ascensia and the establishment of Senseonics' capabilities and processes in Europe, uncertainties in insurer, regulatory and administrative processes and decisions and the finalization of new product version technology upgrades for European tenders and other customers, uncertainties in the development, registration and roll-out of new technology and solutions, uncertainties inherent in the ongoing commercialization of the Eversense product and the expansion of the Eversense product and Senseonics' and its partners' activities, uncertainties relating to the availability and terms of future financing, uncertainties relating to the current economic and regulatory/political environment, including the effects of tariffs, and such other factors as are set forth in the risk factors detailed in Senseonics' Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on March 2, 2026 under the heading "Risk Factors." In addition, the forward-looking statements included in this press release represent Senseonics' views as of the date hereof. Senseonics anticipates that subsequent events and developments will cause Senseonics' views to change. However, while Senseonics may elect to update these forward-looking statements at some point in the future, Senseonics specifically disclaims any obligation to do so except as required by law. These forward-looking statements should not be relied upon as representing Senseonics' views as of any date subsequent to the date hereof.
Senseonics Investor Contact
Jeremy Feffer
LifeSci Advisors
investors@senseonics.com
