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Third Wave Secures $25M Line of Credit

NEW YORK (GenomeWeb News) - Third Wave Technologies said today that it has secured a five-year, $25 million line of credit with healthcare investment company Deerfield Management.
 
Third Wave said it may use the extra capital to market its human papillomavirus tests.
 
The company said any funds it borrows under the facility will have a 7.75 percent interest rate, and an annual two percent non-usage fee will be assessed on the amount the company does not draw.
 
Third Wave also said it has issued a five-year warrant to Deerfield to buy 1.815 million of its shares for $8.36 a share. 

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