By Sheri Kasprzak
New York, June 1 - Amarin Corp. plc received a $15 million equity line of credit agreement from Brittany Capital Management Ltd.
Brittany may buy American Depositary Shares of Amarin at a 4% discount to the closing ADS price during the five- or 10-day pricing period, as applicable, following notice of a put.
There is a limit on each draw equal to the lesser of $3 million or 300% of the weighted-average volume of the ADS over the 20 days before the put notice.
The line of credit has a three-year tenor.
Amarin, based in London, develops drugs to treat central nervous system disorders.
| Issuer: | Amarin Corp. plc
|
| Issue: | Equity line of credit
|
| Amount: | $15 million
|
| Tenor: | Three years
|
| Price: | 4% discount to the closing ADS price during the five- or 10-day pricing period
|
| Warrants: | No
|
| Investor: | Brittany Capital Management Ltd.
|
| Settlement date: | June 1
|
| Stock symbol: | Nasdaq: AMRN
|
| Stock price: | $0.6001 at close June 1
|
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