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
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