Outlook Therapeutics enters $10.22 million note purchase agreement

By Taylor Fox

New York, Nov. 6 – Outlook Therapeutics, Inc. entered into a $10.22 million note purchase agreement with Streeterville Capital, LLC for $10 million cash proceeds, according to an 8-K filing with the Securities and Exchange Commission.

The note bears interest at a rate of 7˝% per annum compounding daily, matures Jan. 1, 2022 and includes an original issue discount of $200,000, along with $20,000 for investor’s fees, costs and other transaction expenses.

Outlook may prepay all or a portion of the note at any time by paying 105% of the amount elected for pre-payment.

Proceeds will be used to pay off existing demand notes and to provide additional working capital.

Outlook is a late clinical-stage biopharmaceutical company based in New Jersey.

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