- Medexus Pharmaceuticals (MDP) signed a secured credit agreement for a US$35 million term loan facility and a US$3.5 million revolving loan facility
- Medexus used the loan to satisfy all obligations under its existing senior-secured credit facilities
- Medexus is a pharmaceutical company with a growing portfolio of innovative and rare disease treatment solutions
- Medexus Pharmaceuticals Inc. (MDP) opened trading at C$1.67
Medexus Pharmaceuticals (MDP) signed a secured credit agreement for a US$35 million term loan facility and a US$3.5 million revolving loan facility.
The new facilities will mature in March 2026.
Marcel Konrad, Chief Financial Officer of Medexus, commented on the financing.
“As we look ahead to fiscal year 2024, we are pleased to announce this non-dilutive debt financing, which demonstrates our access to capital on competitive terms. Medexus has delivered sequential revenue growth and improving profitability over the past five fiscal quarters, and we are pleased that our new partners at BMO have recognized the strength and stability of our business.”
Medexus used the loan to satisfy all obligations under Medexus’s existing senior secured credit facilities, scheduled to mature in July 2023. The interest rate will initially be 8.58 per cent.
About Medexus
Medexus is a pharmaceutical company with a North American commercial platform and a growing portfolio of innovative and rare disease treatment solutions. Medexus’s current focus is on the therapeutic areas of hematology, oncology, auto-immune diseases, and allergy.
Medexus Pharmaceuticals Inc. (MDP) opened trading at C$1.67.