MDRNA, Inc. (MRNA) Announces Full Repayment of GE Capital Debt
MDRNA, Inc. (NASDAQ: MRNA) announced that it has repaid all of its remaining debt to General Electric (NYSE: GE) Capital Corporation (GECC) under the January 2009 Loan and Security Agreement.
"I am pleased we have met our commitment to shareholders to eliminate the Company's remaining term debt obligations prior to the start of the third quarter," stated J. Michael French, President and CEO. "In less than five months time, we retired a $5.5 million loan created to consolidate our GE Capital leases. The repayment of this loan removes all liens on our intellectual property, equipment and other assets, thus providing us maximum flexibility in establishing broad target and therapeutic-based pharma collaborations. By eliminating the remaining debt, we have significantly strengthened our balance sheet, enabling us to further capitalize on our strong science and broad intellectual property estate."
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