Seeking Alpha

Hercules funds down payment for Celsion's EGEN purchase

  • 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
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