Medicus Pharma enters USD 22.86 million secured note deal with Streeterville Capital

Medicus Pharma Ltd

Medicus Pharma Ltd

MDCX

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  • Medicus Pharma closed a note purchase agreement with Streeterville Capital for two secured promissory notes totaling USD 22.86 million.
  • Streeterville funded USD 12 million at closing; another USD 10 million was placed in a controlled deposit account at Lakeside Bank.
  • Secured Promissory Note A-1 carries 8.75% interest, an USD 834,225 original issue discount; matures 18 months from issuance.
  • Secured Promissory Note B carries 5% interest; no original issue discount; matures 18 months from issuance.
  • About USD 2.5 million repaid and extinguished a YA II PN debenture; proceeds earmarked for clinical development, business development, general corporate uses.


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