$CERS,,,More good news out a couple hours ago,,,st
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Posted On: 08/02/2017 1:03:29 PM
Re: OldSaltDawg #18461
$CERS,,,More good news out a couple hours ago,,,stock climbing,,up $.12 to $2.34.,,,may continue if Earnings report is good.
Cerus Enters Into $40 Million Amended Growth Capital Agreement
Business Wire Business WireAugust 2, 2017
CONCORD, Calif.--(BUSINESS WIRE)--
Cerus Corporation (CERS) announced today that it has entered into a $40 million amended growth capital credit facility with Oxford Finance LLC, a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide. Under the amended facility, Cerus received an immediate $30 million loan at closing on July 31, 2017 and has the option to draw another $10 million subject to achieving a specified revenue milestone.
“Oxford continues to be an invaluable partner. Their appreciation of our business opportunity and shared belief in our mission to establish INTERCEPT as the standard of care for transfused blood components globally strengthens our relationship,” said Kevin D. Green, vice president, finance and chief financial officer of Cerus Corporation. “The non-dilutive capital and potential access to additional proceeds provides us with financial flexibility to help us execute on our commercial growth strategy, as well as to support key clinical programs.”
“A portion of the proceeds from the initial $30 million loan were used to repay the outstanding term loans of approximately $17.6 million provided under the original agreement with Oxford. The amended facility provides Cerus with not only additional capital but also deferred amortization for 18 to 24 months,” continued Green.
“We are pleased to extend our collaboration with Cerus in support of its commercial growth initiatives,” said Christopher A. Herr, senior managing director at Oxford Finance. “Cerus’ commitment to improving patient care, its seasoned management team, and proprietary technology provides us with an attractive lending opportunity.”
ABOUT CERUS
Cerus Enters Into $40 Million Amended Growth Capital Agreement
Business Wire Business WireAugust 2, 2017
CONCORD, Calif.--(BUSINESS WIRE)--
Cerus Corporation (CERS) announced today that it has entered into a $40 million amended growth capital credit facility with Oxford Finance LLC, a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide. Under the amended facility, Cerus received an immediate $30 million loan at closing on July 31, 2017 and has the option to draw another $10 million subject to achieving a specified revenue milestone.
“Oxford continues to be an invaluable partner. Their appreciation of our business opportunity and shared belief in our mission to establish INTERCEPT as the standard of care for transfused blood components globally strengthens our relationship,” said Kevin D. Green, vice president, finance and chief financial officer of Cerus Corporation. “The non-dilutive capital and potential access to additional proceeds provides us with financial flexibility to help us execute on our commercial growth strategy, as well as to support key clinical programs.”
“A portion of the proceeds from the initial $30 million loan were used to repay the outstanding term loans of approximately $17.6 million provided under the original agreement with Oxford. The amended facility provides Cerus with not only additional capital but also deferred amortization for 18 to 24 months,” continued Green.
“We are pleased to extend our collaboration with Cerus in support of its commercial growth initiatives,” said Christopher A. Herr, senior managing director at Oxford Finance. “Cerus’ commitment to improving patient care, its seasoned management team, and proprietary technology provides us with an attractive lending opportunity.”
ABOUT CERUS
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'Everything works out in the end,,,If it hasn't worked out,,it's not the end'
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