Scynexis makes fourth draw on $60 million loan from Silicon Valley

Chicago, March 10 – Scynexis, Inc. reported that it made its fourth draw for $5 million on its up to $60 million term loan with Silicon Valley Bank as a lender, according to an 8-K filing with the Securities and Exchange Commission.

The loan lists Hercules Capital, Inc. as administrative agent and collateral agent.

The company received the additional $5 million on March 9.

The company was able to make four draws.

Initially, the company drew $20 million at closing on May 13, 2021.

Then, the second draw was available for $10 million in June 2021. Another $5 million was borrowed for a milestone achievement.

The drug discovery and development company is based in Jersey City, N.C.

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