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TOPIC: Oxford loan-Extension interest only period of 4 months

Oxford loan-Extension interest only period of 4 months 20 Jun 2018 08:13 #11963

  • fas
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On June 19, 2018, Cytori Therapeutics, Inc. (the “Company”) entered into a second amendment (the “Second Amendment”) to its existing Loan and
Security Agreement, dated May 29, 2015 (the “Loan Agreement”), with Oxford Finance LLC (“Oxford”), as collateral agent, and the lenders party thereto,
including Oxford.  The Second Amendment extends the interest- only period under the Loan Agreement to August 1, 2018, with a further extension through
December 1, 2018 if the Company receives unrestricted gross cash proceeds of at least $15 million from the sale and issuance of the Company’s equity securities on or before August 31, 2018.
The Second Amendment also requires that the Company pay an amendment fee of $250,000 at the earlier of the maturity or acceleration of the loan.
The foregoing description of the Second Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Second Amendment, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2018.


Only costs 250.000$ :whistle:

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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

Oxford loan-Extension interest only period of 4 months 20 Jun 2018 08:53 #11964

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fas wrote:

On June 19, 2018, Cytori Therapeutics, Inc. (the “Company”) entered into a second amendment (the “Second Amendment”) to its existing Loan and
Security Agreement, dated May 29, 2015 (the “Loan Agreement”), with Oxford Finance LLC (“Oxford”), as collateral agent, and the lenders party thereto,
including Oxford.  The Second Amendment extends the interest- only period under the Loan Agreement to August 1, 2018, with a further extension through
December 1, 2018 if the Company receives unrestricted gross cash proceeds of at least $15 million from the sale and issuance of the Company’s equity securities on or before August 31, 2018.
The Second Amendment also requires that the Company pay an amendment fee of $250,000 at the earlier of the maturity or acceleration of the loan.
The foregoing description of the Second Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Second Amendment, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2018.


Only costs 250.000$ :whistle:


Not a very good deal, but Oxford is in the driver's seat.

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