Omeros frees up $45M in new capital via amendment to credit facility; shares up 9%

|About: Omeros Corporation (OMER)|By:, SA News Editor

Omeros (OMER +8.9%) announces a change to its existing credit facility with certain affiliates of investment firm CRG LP under which it has access to as much as $45M in new borrowings. The expanded credit limit was enabled by the reduction of the minimum market cap/loan balance ratio from 6.4x to 3.0x. It may borrow the funds on or before May 20.

In conjunction with the amendment, the company will issue five-year warrants to the lenders to purchase up to 200K shares of stock at $23 per share.

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