PDL BioPharma Announces Successful Conclusion of Agreement with Avinger
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September 23, 2015 7:02 AM EDT
PDL BioPharma (NASDAQ: PDLI) announced that PDL has received approximately $21.4 million in connection with the termination of PDL's structured financing agreement with Avinger, Inc. (Nasdaq: AVGR), which included repayment of the full principal amount outstanding of $20.6 million as... More
September 23, 2015 7:01 AM EDT
Avinger (NASDAQ: AVGR) announced that it has entered into a term loan agreement and a securities purchase agreement with CRG (formerly Capital Royalty L.P.). The agreements provide Avinger with new financing of up to $55.0 million.
Under the terms of the term loan agreement, Avinger initially borrowed $30.0 million, which requires only interest payments for four years. Concurrent with this first tranche, CRG purchased $5.0 million in shares of... More
