AQST - Aquestive Therapeutics trades high on royalty monetization agreement with Marathon

Aquestive Therapeutics (AQST) +6.3% PM, entered a royalty monetization agreement with an affiliate of Marathon Asset Management, a leading global investment firm, leading to proceeds of up to $125M.As per agreement terms, Aquestive will receive $40M at closing and is eligible to receive up to $85M of contingent payments at various points, commencing in Q4.For the funding, Marathon will be entitled to receive all royalties and other payments due under Aquestive's license agreement with Sunovion Pharmaceuticals led by Sunovion's commercialization of KYNMOBI sublingual film for the acute, intermittent treatment of OFF episodes in patients with Parkinson's disease.Transaction proceeds will be used to repay certain senior notes ($22.5M) and fund its ongoing development and commercialization of its proprietary product pipeline candidates, as well as for working capital purposes.It will also issue $4M of new senior notes in lieu of paying a prepayment premium on the early repayment of the senior notes; senior

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Aquestive Therapeutics trades high on royalty monetization agreement with Marathon