Brief: Santhera Receives Financing Commitment Of Up To CHF 20 Million

Santhera Pharmaceuticals Holding AG

04/06/2020 06:03

June 4 (Reuters) - Santhera Pharmaceuticals Holding AG
 SANN.S :
    * SANTHERA RECEIVES FINANCING COMMITMENT OF UP TO CHF 20
MILLION
FROM FUND MANAGED BY HIGHBRIDGE CAPITAL MANAGEMENT
    * FINANCING PROVIDES FUNDING RUNWAY TO ADVANCE DMD-FRANCHISE
WITH
PULDYSA® AND VAMOROLONE
    * COMPANY EXPECTS TO DRAW DOWN FIRST TRANCHE OF BORROWING IN
AMOUNT OF CHF 7.5 MILLION IN LATE JUNE 2020
    * HAS ALSO AGREED TO ISSUE 300,000 SHARES OF COMPANY, AS
CONSIDERATION FOR COMMITMENT AND UTILIZATION OF FINANCING, WITH
75,000 OF SUCH SHARES BEING ISSUED UPON SIGNING OF COMMITMENT
    * NOTES HAVE A MAXIMUM TERM OF 18 MONTHS AND WILL PAY A
FIXED
INTEREST, WHICH SANTHERA CAN PAY IN CASH AT A RATE OF 12% PER
ANNUM OR IN KIND AT A RATE OF 13% PER ANNUM

Source text for Eikon:  ID:nGNE1nMMdN 
Further company coverage:  SANN.S 

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