Alimera Sciences has entered into a $40 million term loan agreement with Solar Capital Ltd., according to a company press release.
Alimera plans to use the loan to pay off an existing $35 million term loan and to provide additional working capital.
Interest on outstanding borrowing on the loan is payable at 1-month LIBOR plus 7.65% per year, while the loan’s current interest rate is 9.2%, the release said.
In addition, Alimera paid Solar Capital a $400,000 fee at closing and is obligated to pay a $1.8 million fee upon (Read more...)
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