Cormedix closes $7.5M senior secured convertible debt financing

|By:, SA News Editor

CorMedix closes and draws a previously announced $7.5M, senior secured convertible debt financing with Elliott Associates

The loan has a three-year maturity with annual interest rate of 10% and is convertible into CRMD stock at $1.50/ share

In connection with the financing, the Company issues new, five-year warrants to purchase 450,000 shares at $1.50 per share, as well as reduces exercise price on two existing warrants expiring in May and October 2019.

(NYSEMKT:CRMD) shares are up 4.32% in pre-market

SEC filing

Subscribe for full text news in your inbox