You may find more results for this query on our sister sites: 360Dx and Precision Oncology News.
Along with the increase in the amount of the credit facility, its maturity was extended by more than two years to April 1, 2019.
The company's CFO said the agreement reduces Hologic's interest expense, increases its financial flexibility, and extends its debt maturities.
The company has amended and restated a credit facility and a secured revolving note to increase the available borrowing amount for each to up to $120 million.
The financing will go toward commercial and clinical activities to increase adoption of the company's DecisionDx-Melanoma test.
The company borrowed $2 million pursuant to an amendment to a $12 million credit agreement. It also said that it has until June 19 to meet certain listing requirements.
The company drew a first tranche of $8.5 million from the credit facility in July and has $2 million remaining on the term loan commitment.
The loan agreement replaces a prior credit facility from Oxford Finance and Silicon Valley Bank.
The Australian molecular diagnostics firm will use the facility to further commercialize its breast cancer test in the US.
The revolving credit facility and the term loan credit facility are for $1 billion each.
NEW YORK (GenomeWeb) – Bio-Rad Laboratories said on Thursday it has entered into a credit agreement with lenders to borrow up to $200 million.
Forbes reports that a structural biology lab at Oxford University studying the coronavirus was hacked.
Politico reports that the NYPD DNA database has grown since it announced it would be removing profiles from it.
Science reports that a Dutch research funding agency is combating a ransomware attack.
In Science this week: set of 64 haplotype assemblies from 32 individuals, and more.