Investor also gets warrants for an 8.125% interest in two subsidiaries
By Devika Patel
Knoxville, Tenn., July 3 – Knight Therapeutics Inc. said it arranged a $6.5 million secured loan with Sanders Morris Harris Inc. It also plans a $16.5 million equity investment with Signet Healthcare Partners.
The loan matures on June 30, 2018 and bears interest at 12%.
Sanders Morris also will receive warrants to acquire an 8.125% beneficial interest of Apicore LLC and Apicore US LLC.
Proceeds will be used to acquire Apicore and Apicore US.
The pharmaceutical company is based in Montreal.
| Issuer: | Knight Therapeutics Inc.
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| Issue: | Secured loan
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| Amount: | $6.5 million
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| Maturity: | June 30, 2018
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| Coupon: | 12%
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| Warrants: | For an 8.125% beneficial interest of Apicore LLC and Apicore US LLC
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| Investor: | Sanders Morris Harris Inc.
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| Pricing date: | July 3
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| Stock symbol: | TSX Venture: GUD
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| Stock price: | C$6.14 at close July 2
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| Market capitalization: | C$477.47 million
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