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Lensar seeks court approval to access $4.37 million in DIP financing
By Caroline Salls
Pittsburgh, Jan. 6 – Lensar, Inc. requested court approval to obtain $4.37 million in debtor-in-possession financing, according to a motion filed Friday with the U.S. Bankruptcy Court for the District of Delaware.
PDL Biopharma, Inc. is the lender and DIP financing agent.
The facility includes $2.8 million in new money and $1.57 million in previously funded interim advances.
Interest will accrue at a rate of 15½%, payable in kind.
According to the motion, the milestones related to the maturity date are still being negotiated.
The interim DIP financing hearing is scheduled for Jan. 9.
Lensar is an Orlando, Fla.-based next-generation cataract surgery laser technology company. The company filed bankruptcy on Dec. 16 under Chapter 11 case number 16-12808.
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