89bio (ETNB) said Thursday it negotiated with lenders a $50 million increase in its borrowing capacity.
The biotechnology company said in a regulatory filing with the Securities and Exchange Commission that its lenders amended an existing term loan agreement to $150 million from $100 million. The term loan is set to expire on Oct. 1, 2028.
89bio received $35 million at closing, and will have an additional $35 million available through June 30, 2025.
A second tranche of $30 million will be funded once a certain, time-based clinical milestone is met, while a further $50 million will be made available subject to lenders' due diligence, the company said.
As part of the agreement, 89bio also issued 406,951 warrants to K2 HealthVentures exercisable at $7.3719 each.
Price: 7.17, Change: -0.09, Percent Change: -1.21
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。