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Prometic Closes Credit Line With Structured Alpha LP
Dec. 01, 2017 08:36AM PST
Pharmaceutical InvestingPrometic Life Sciences announced it closed an $80 million line of credit with Structured Alpha LP.
Prometic Life Sciences (TSX:PLI; OTCQX:PFSCF) announced it closed an $80 million line of credit with Structured Alpha LP.
As quoted in the press release:
As partial consideration for establishing the Credit Facility, Prometic has granted Structured Alpha LP an initial 10 million warrants with an exercise price of CAD $1.70 per common share with a term expiring June 30, 2026, alongside an additional 44 million warrants at the same exercise price and term, which will vest in tranches each time Prometic draws an additional amount of USD $10 million (CAD $12.5 million) under the Credit Facility.
Click here to read the full press release.
Source: www.newswire.ca
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