Ann: AVITA Medical Q3 Revenue & Secures $90M Non-Dilutive Debt, page-22

If you read the full contract (fun) they mention monthly but farther in it refers to quarterly. I'd guess the latter, but interest and principal would be the same. Term is 10 years. Prepayment would include fee, think it's 3%.
They still have an equity raise on the shelf that they could still deploy at a higher price and not elect to take the other 50M in debt.
The terms of this loan are probably as good as a company of Avita's size and current cash requirements could expect. Even most reasonably capitalized and profitable companies would get PRIME at best, 8.5%.
If their thinking was rates are likely going up more, not a bad bet with global issues as they are, better now than later. Imagine there has been a good deal of discussion in the board room on this in recent quarters.
My real problem is the way they have handled information since JC took over.
Q1 56% EPS miss, poor guidance. JC looked into the camera and said he didn't know why the stock dropped 40% after earnings release. Also stated his goal was giving clear and accurate guidance.
Q2 38% EPS miss, poor guidance, anything but clear.
And if they go with (.43) consensus EPS this Q may have another decent miss. Saw the first 2 coming, no idea this time.
In both recent investor webinars he made it sound as though they were well ahead on uptake and sales than they had expected. Yet only hit mid range of estimate, 13.5M. I also think he oversold the importance of GO to current business, which made the FDA delay seem worse than it is.
Think few saw debt as the way they would raise capital, most indications pointed to an equity raise at some point. So once again, may or may not have been the right thing to do, but it caught a lot of investors off guard.
I got sold by a salesman, I know better. But JC could probably talk the garters off a cloistered nun.
It not so much the what as the how.