ASPCF - Acerus Pharmaceuticals increases loan facility to $37.94M

Acerus Pharmaceuticals (OTCQB:ASPCF) amends agreement with First Generation Capital, to increase its existing secured loan facility from $35.845 million to $37.945 million. This increase was made available to the company by way of a single advance of $2.1 million on June 23, 2022 under a secured grid promissory note with First Generation. The loan facility bears interest at a rate of 8% per annum and is repayable in full on December 31, 2024 but can be prepaid in full or in part without penalty. The proceeds from the loan facility will be used for ongoing general working capital.

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Acerus Pharmaceuticals increases loan facility to $37.94M