By Devika Patel
Knoxville, Tenn., Aug. 9 – Synergy CHC Corp. arranged a $10 million three-year 10.5% secured loan with a Knight Therapeutics Inc. subsidiary, according to a press release.
The investor may issue up to an additional $20 million of secured debt financing to Synergy at substantially similar terms.
Proceeds will be used to support product acquisitions as well as for general working capital purposes.
Knight issued two secured loans to Synergy in 2015 totaling $11.5 million to support two acquisitions.
The 2015 loans have a balance of $3.1 million and are scheduled to be repaid by Jan. 20, 2018.
Synergy is a Westbrook, Maine, consumer healthcare company.
| Issuer: | Synergy CHC Corp.
|
| Issue: | Secured loan
|
| Amount: | $10 million
|
| Maturity: | Aug. 9, 2020
|
| Coupon: | 10.5%
|
| Investor: | Knight Therapeutics Inc.
|
| Announcement date: | Aug. 9
|
| Distribution: | Private placement
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
