2023-05-01 07:43:15 ET
- FibroGen ( NASDAQ: FGEN ) announces a term loan facility with investment funds managed by Morgan Stanley Tactical Value or MSTV of up to $150M.
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The $150M term loan facility will be available to the company in three tranches: the initial tranche of $75M will be funded by May 8, 2023; second tranche of $37.5M will be funded in Q3 2023 upon achievement of certain clinical development milestones; MSTV has the option to fund a third tranche of up to $37.5M in tQ3.
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The borrowings under this three-year term loan facility will accrue interest at 14.0%.
For further details see:
FibroGen gets $150M term-loan financing