NanoString Announces Completion of Financing to Support Restructuring Process

NanoString Technologies, Inc. (NASDAQ: NSTG), a leading provider of life science tools for discovery and translational research, today announced the Company has entered into a credit agreement with its existing lenders comprised of (a) $12,500,000 in new money term loans which have already been approved for funding pursuant to the February 5 interim order of the U.S. Bankruptcy court approving the credit facility, and (b) an additional $35,000,000 in new money term loans to be funded upon entry of the final order of the Court approving the credit facility, which is expected in late February. The total amount of $47.5 million to be provided represents an increase as compared to the initial $40 million commitment as announced on February 5, 2024. The proceeds of this new financing will support the Company through its restructuring process and will be used to support the continued and ordinary course operations of the Company, including its product sales, product development and other key business activities.

“We want to thank our noteholders for their strong support for NanoString. We are also grateful for our dedicated team and loyal customers as we navigate the restructuring process,” said Brad Gray, President and CEO of NanoString. “With this financing, we will continue to conduct business as usual, our commercial team will continue to serve our customers and we will support the scientific community with the same great products and tools. We are concurrently exploring several strategic options with the goal of assuring the long-term continuation of our mission, on behalf of all NanoString stakeholders including our customers and employees.”

Additional information regarding the Company’s court-supervised process, including court filings and other information, is available on a separate website administrated by the Company’s claims agent, Kroll, at https://cases.ra.kroll.com/NanoString.

NanoString is represented by Willkie Farr & Gallagher LLP as counsel, AlixPartners LLP as restructuring advisor, and Perella Weinberg Partners L.P. as restructuring investment banker.

About NanoString

NanoString Technologies, a leader in spatial biology, offers an ecosystem of innovative discovery and translational research solutions, empowering our customers to map the universe of biology. The GeoMx Digital Spatial Profiler is a flexible and consistent solution combining the power of whole tissue imaging with gene expression and protein data for spatial whole transcriptomics and proteomics. The CosMx Spatial Molecular Imager is a single-cell imaging platform powered by spatial multiomics enabling researchers to map single cells in their native environments to extract deep biological insights and novel discoveries from one experiment. The AtoMx Spatial Informatics Platform is a cloud-based informatics solution with advanced analytics and global collaboration capabilities, enabling powerful spatial biology insights anytime, anywhere. At the foundation of our research tools is our nCounter Analysis System, which offers a secure way to easily profile the expression of hundreds of genes, proteins, miRNAs, or copy number variations, simultaneously with high sensitivity and precision.