Brief: Crescita Therapeutics announces amended loan agreement with Knight Therapeutics

Crescita Therapeutics

14/08/2017 13:30

Aug 14 (Reuters) - Crescita Therapeutics Inc  CTX.TO  
    * Crescita Therapeutics announces amended loan agreement 
with Knight Therapeutics 
    * Crescita Therapeutics Inc - announced it has entered into 
an amended loan agreement with Knight Therapeutics Inc 
    * Crescita Therapeutics Inc - under terms of amended loan 
agreement, Crescita will immediately repay $2.5 million of loan 
    * Crescita Therapeutics Inc - Knight has agreed to release 
letter of credit in exchange for a general security interest 
over all of Crescita's assets 
    * Crescita Therapeutics - has access to additional $6.0 
million of cash that was previously restricted under terms of 
letter of credit - to fund operations 
    * Crescita Therapeutics - loan continues to bear interest 
at 9% per annum and matures on January 22, 2022 
    * Entered into an amended loan agreement with knight 
therapeutics inc 
    * Crescita agreed to make additional repayments such that 
principal amount of loan is reduced to $2.5 million by December 
31, 2018 
 
Source text for Eikon:  ID:nCNW6k1Rba  
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