Deal also includes warrant for 301,205 shares, exercisable at $2.49
By Devika Patel
Knoxville, Tenn., June 28 - Navidea Biopharmaceuticals, Inc. negotiated a $25 million loan on June 25, according to an 8-K filed Friday with the Securities and Exchange Commission.
General Electric Capital Corp. is the agent and among the investors, who also include MidCap Financial SBIC LP.
The 9.83% loan matures on Dec. 23, 2016. It may be prepaid.
Investors also received warrants for 301,205 shares, which are each exercisable at $2.49 for ten years. The strike price reflects a 2.47% premium to the June 24 closing share price of $2.43.
Navidea is a Dublin, Ohio-based biomedical company focused on precision diagnostic radiopharmaceuticals to help identify sites and pathways of undetected disease.
| Issuer: | Navidea Biopharmaceuticals, Inc.
|
| Issue: | Loan
|
| Amount: | $25 million
|
| Maturity: | Dec. 23, 2016
|
| Coupon: | 9.83%
|
| Call: | Yes
|
| Warrants: | For 301,205 shares
|
| Warrant expiration: | Ten years
|
| Warrant strike price: | $2.49
|
| Agent: | General Electric Capital Corp.
|
| Investor: | General Electric Capital Corp., MidCap Financial SBIC LP
|
| Settlement date: | June 25
|
| Stock symbol: | NYSE: NAVB
|
| Stock price: | $2.43 at close June 24
|
| Market capitalization: | $311.73 million
|
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