Skip to main content

Helicos Receives $10M Under Amended GE Loan Agreement

NEW YORK (GenomeWeb News) - Helicos BioSciences said today in a filing with the US Securities and Exchange Commission that it has received $10 million under an amended loan agreement that it originally signed with General Electric Capital Corporation and other lenders in December 2007.
The original agreement entitled Helicos to borrow up to $20 million. The company received an initial loan of $10 million at the time, along with permission to request an additional loan up to $10 million through June 30, 2008.
The first $10 million was to be amortized over 36 months, and Helicos owed interest-only payments over the initial 12 months of the loan.
Under the amended agreement, signed June 27, Helicos received a second $10 million loan with payments of principal and interest due in 36 monthly installments.
In line with the amended agreement, Helicos paid GE Capital a fee of $150,000 to serve as agent for the credit facility, and issued warrants for the rights to acquire up to 110,000 shares of its common stock for an exercise price of $4.80 per share.
The company’s shares closed at $4.68 on Monday afternoon.

The Scan

UK Funds to Stay Ahead of Variants

The UK has announced a further £29.3 million to stay on top of SARS-CoV-2 variants, the Guardian reports.

Push for Access

In a letter, researchers in India seek easier access to COVID-19 data, Science reports.

Not as Cold

Late-stage trial results are expected soon for an RNA-based vaccine that could help meet global demand as it does not require very cold storage, the New York Times writes.

Genome Research Papers on Microbes' Effects on Host Transfer RNA, Honeybee Evolution, Single-Cell Histones

In Genome Research this week: influence of microbes on transfer RNA patterns, evolutionary relationships of honeybees, and more.