- Celsion is required to make an upfront payment of $3.4M, and to fund that closes on its 2nd $5M tranche under its $20M Loan and Security Agreement with Hercules Technology Growth Capital (HTGC). Under terms of that Agreement made last November, Celsion obtained consent from Hercules to move forward with the purchase.
- The funding is variable-rate, and Hercules also has a warrant (expiring in 2018) to buy nearly 200K shares of Celsion at $3.59 each.
- Source: Press Release
- Previously: Celsion buys cancer therapeutics firm