Galectin secures $10M credit line; shares ahead 30% after hours

|About: Galectin Therapeutics,... (GALT)|By:, SA News Editor

Nano cap Galectin Therapeutics (NASDAQ:GALT) is up 30% after hours on increased volume on the heels of its announcement that it has inked a $10M unsecured credit facility with new director Richard Uihlein.

Under the terms of the facility, the company can borrow at its discretion through year-end 2018.

In consideration of the credit line, Mr. Uihlein received warrants to purchase up to 1M common shares at $5.00 per share.