- Halozyme (NASDAQ:HALO) inks a new financing agreement with Oxford Finance LLC and Silicon Valley Bank under which it borrowed $55M at 8.25% to refinance existing long-term debt. The new facility allows interest-only payments for the first 18 months, followed by principal and interest payments until maturity on January 1, 2021.
- The deal should increase the company's cash balance by $22M both this year and in 2017. The company has the option to borrow an additional $15M in Q2 2017 at prime + 4.75%.
- As of March 31, Halozyme's quick assets totaled ~$239M.
- Shares are up 2% premarket on light volume.
Halozyme improves cash position with debt refinance; shares up 2% premarket
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Symbol | Last Price | % Chg |
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HALO | - | - |
Halozyme Therapeutics, Inc. |