---
title: "Oncology Institute Refinances Debt with New Term Loan"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/291980788.md"
description: "The Oncology Institute (TOI) refinanced its debt by entering a $75 million term loan with OrbiMed Opportunities, maturing in 2031. The proceeds, combined with $11 million in cash, were used to fully repay $86 million in senior secured convertible notes due 2027. This move extends debt maturity and strengthens liquidity. TOI also issued warrants to Deerfield Partners as part of the transaction."
datetime: "2026-07-07T21:32:44.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/291980788.md)
  - [en](https://longbridge.com/en/news/291980788.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/291980788.md)
---

# Oncology Institute Refinances Debt with New Term Loan

Oncology Institute ( (TOI) ) just unveiled an update.

On July 1, 2026, The Oncology Institute entered a $75 million term loan agreement with OrbiMed Opportunities, drawing the facility in full and securing it with a first‑priority lien on substantially all assets of the company and certain subsidiaries. The debt carries a floating interest rate with a 3.00% floor plus 5.75%, matures in 2031, and includes customary covenants, quarterly amortization starting three years after closing, and a minimum $700 million trailing‑12‑month net revenue requirement from December 2027.

The company used the new term loan and about $11 million of cash on hand to repay in full its $86 million senior secured convertible notes due 2027 held by Deerfield Partners, replacing nearer‑term convertible debt with longer‑dated secured financing. As part of the July 1, 2026 repayment package, TOI issued Deerfield warrants expiring August 9, 2027 to purchase 10,025,535 common shares at an initial exercise price of $8.567, enabling the refinancing to proceed without raising new equity and limiting immediate dilution while strengthening liquidity and extending debt maturities.

The most recent analyst rating on (TOI) stock is a Buy  
with a $7.00 price target.  
To see the full list of analyst forecasts on Oncology Institute stock,  
see the TOI Stock Forecast page.

**Spark’s Take on TOI Stock**

According to Spark, TipRanks’ AI Analyst, TOI is a Neutral.

The score is capped primarily by weak financial fundamentals (ongoing losses, cash burn, and negative equity). Offsetting this are strong technical momentum and a supportive earnings update highlighted by improved operating trends and upgraded free cash flow guidance, while valuation remains constrained by lack of profitability.

To see Spark’s full report on TOI stock,  
click here.

**More about Oncology Institute**

The Oncology Institute, Inc. is one of the largest value‑based oncology groups in the U.S., delivering specialized, evidence‑based cancer care in community settings. Founded in 2007, it serves roughly 2 million patients through more than 100 clinics and network locations across five states, offering clinical trials, transfusions and advanced care models.

With over 400 employed and network clinicians, the company focuses on improving outcomes and reducing costs for patients and contracted payors. Listed on NASDAQ under the ticker TOI, it positions itself as a growth platform in value‑based cancer care, working closely with healthcare financiers and institutional investors to support its expansion.

**Average Trading Volume:** 1,745,917

**Technical Sentiment Signal:** Buy

**Current Market Cap:** $527.9M

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