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BioAmber closes on a $19.2 million corporate loan
Sep. 12, 2016 10:52AM PST
Cleantech InvestingBioAmber Inc. (NYSE: BIOA) has closed on a US$19.2 million loan from Bridging Finance Inc., acting as sub-advisor to the Sprott Bridging Income Fund LP. Proceeds from the loan will be used to retire an $8 million loan from Tennenbaum Capital Partners. As quoted in the press release: Mario Saucier, Chief Financial Officer of BioAmber …
BioAmber Inc. (NYSE: BIOA) has closed on a US$19.2 million loan from Bridging Finance Inc., acting as sub-advisor to the Sprott Bridging Income Fund LP. Proceeds from the loan will be used to retire an $8 million loan from Tennenbaum Capital Partners.
As quoted in the press release:
Mario Saucier, Chief Financial Officer of BioAmber stated: “This non-dilutive loan from Bridging Finance is a strong endorsement of our facility, technology and team, and has allowed us to both lower our financing costs and strengthen our balance sheet. We remain committed to rewarding the confidence that Bridging Finance and our shareholders have shown in us as we ramp-up towards full capacity”.
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