2023-08-14 07:53:07 ET
- Mind Medicine ( NASDAQ: MNMD ) Monday announced it has entered into a senior secured credit facility with K2 HealthVentures, a healthcare-focused specialty finance company.
- “This transaction strengthens our balance sheet and provides us with additional operational and strategic flexibility ...," said Robert Barrow, Chief Executive Officer and Director of MindMed.
- Upon closing, $15.0 million of the $50.0 million loan facility was funded.
- Additional funding amounts of up to an aggregate of $20.0 million may be drawn over the course of the loan term, in each case subject to certain milestones being achieved.
- An additional tranche of $15.0 million is also available, subject to the mutual discretion of the company and lender.
- MNMD +0.47% premarket to $4.28
- Source: Press Release
For further details see:
MindMed secures $50 million credit facility with K2 HealthVentures