Response Genetics closes credit agreement


Response Genetics (RGDX -10.9%) enters into a credit agreement with SWK Funding LLC for a multi-draw term loan for up to $12M. On the closing date of the agreement, July 30, 2014, SWK advanced the company $8.5M which is due on July 30, 2020.

Under the terms of the agreement, the loan will bear an interest rate of LIBOR plus 12.5%.

SWK also receives a warrant to purchase 681,090 shares of RGDX common stock at $0.936 per share. It may exercise the warrant on a cashless basis at any time. RGDX currently trades at $0.70 per share.

Comments (3)
  • Christopher F. Davis
    , contributor
    Comments (1782) | Send Message
     
    http://bit.ly/1pAMSxG

     

    Read this about Response!
    5 Aug 2014, 11:48 AM Reply Like
  • jjvacc
    , contributor
    Comments (100) | Send Message
     
    Dem's Mafia rates!
    5 Aug 2014, 01:47 PM Reply Like
  • marketman9876
    , contributor
    Comments (5) | Send Message
     
    This is a term loan....as in long term, for which a premium interest rate is always paid.
    6 Aug 2014, 02:17 PM Reply Like
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