Loan agreement

MannKind Repays Certain Debt Obligations

Retrieved on: 
Wednesday, April 3, 2024
MannKind Corporation, Note, Professional corporation, Patient, Loan agreement, Loan, Doctor of Pharmacy, Security (finance)

On April 1, 2024, MannKind made a payment to the lenders under the Loan Agreement of approximately $31.6 million, including a contractually obligated exit fee of $2.8 million and a prepayment fee of approximately $0.3 million, in full satisfaction of all of the Company’s debt obligations under the Loan Agreement, which would have matured on August 1, 2025.

Key Points: 
  • On April 1, 2024, MannKind made a payment to the lenders under the Loan Agreement of approximately $31.6 million, including a contractually obligated exit fee of $2.8 million and a prepayment fee of approximately $0.3 million, in full satisfaction of all of the Company’s debt obligations under the Loan Agreement, which would have matured on August 1, 2025.
  • In connection with the repayment of outstanding indebtedness by MannKind, all liens, mortgages and security interests in any assets or property securing the obligations under the Loan Agreement were automatically terminated and released and MannKind and its subsidiaries were automatically released from all guarantees.
  • Upon receipt of this consideration, all indebtedness under the Note was satisfied in full and all obligations under the Note were automatically terminated.
  • “Repaying the MidCap loan agreement eliminates our most expensive debt going forward and releases our assets from their security interests,” said Michael Castagna, PharmD, Chief Executive Officer of MannKind Corporation.

InspireSemi Announces Secured Loans and Closing of Private Placement

Retrieved on: 
Monday, April 1, 2024
Creditor, TSX Venture Exchange, Funding, Exercise, Exchange, Loan, Minority, Loan agreement, HPC, AI, Finance Secretary (India), Advance, PV, Security (finance)

The Loans may be repaid by the Company prior to the Maturity Date at the Company’s option.

Key Points: 
  • The Loans may be repaid by the Company prior to the Maturity Date at the Company’s option.
  • The Loans are secured until repayment by a first ranking security granted by general security agreement (and guaranteed by all subsidiaries) on all of the present and future acquired assets of the Company and its subsidiaries.
  • The Company will, subject to the approval of the TSX Venture Exchange (the “Exchange”), issue a total of 48,911 Bonus Warrants to the Lenders.
  • The terms of the Loan Agreement provide that the Company may receive additional secured loans on the same terms up to a maximum amount of US$3,000,000.

IntelGenx Reports Fourth Quarter and Full-Year 2023 Financial Results

Retrieved on: 
Thursday, March 21, 2024
Quarter, Annual report, Medical Products Agency (Sweden), Parkinson's disease, General counsel, International, Patient, Loan agreement, Research, Webcast, Form 10-K, University, Stock, Senior, Bank statement, TSX, SKU, Investment, Pet, Cryptocurrency

SAINT LAURENT, Quebec, March 21, 2024 (GLOBE NEWSWIRE) -- IntelGenx Technologies Corp. (TSX:IGX)(OTCQB:IGXT) (the "Company" or "IntelGenx") today reported financial results for the three- and twelve-month periods ended December 31, 2023.

Key Points: 
  • SAINT LAURENT, Quebec, March 21, 2024 (GLOBE NEWSWIRE) -- IntelGenx Technologies Corp. (TSX:IGX)(OTCQB:IGXT) (the "Company" or "IntelGenx") today reported financial results for the three- and twelve-month periods ended December 31, 2023.
  • Net comprehensive loss was $1.7 million, down from $2.3 million in the fourth quarter of 2022.
  • Operating costs and expenses were $2.4 million for the fourth quarter of 2023, versus $2.7 million for the corresponding three-month period of 2022.
  • IntelGenx will host a conference call to discuss these 2022 fourth quarter and full year financial results today at 8:30 a.m.

IntelGenx Enters Into a Third Amended and Restated Loan Agreement With atai Life Sciences

Retrieved on: 
Monday, March 11, 2024
Acquisition, Loan agreement, TSX, Toronto Stock Exchange, Sale, Exercise, Loan, Multilateral, Bankruptcy, Conversion, IGX, National instrument, Security (finance), Minority, Related, VWAP

Concurrently to entering into the Loan Agreement, the Company has issued 4,000,000 warrants (the “Warrants”) to atai.

Key Points: 
  • Concurrently to entering into the Loan Agreement, the Company has issued 4,000,000 warrants (the “Warrants”) to atai.
  • The Warrants entitle atai to purchase Shares at a price of US$0.17 per Share, for a period of 36 months following their issuance.
  • The shorter period was necessary in order to permit the Company to close the Loan Agreement in a timeframe consistent with usual market practice for transactions of this nature.
  • This press release does not constitute an offer of securities for sale in the United States.

Innovative Industrial Properties Reports Fourth Quarter and Full-Year 2023 Results

Retrieved on: 
Monday, February 26, 2024
REIT, Cannabis, Natural Resources, Commercial Building & Real Estate, Construction & Property, Acquisition, Collection, FFO, Loan agreement, LP, Total, Note, IIP, Investment, ATM, Renting, Debt-to-GDP ratio, Tenant, Loan, Letter, Line of credit, GAAP, Judgement, Pleasanton Unified School District, Webcast, Tax, Normalization, Vertical, Credit, Partnership, Property management

Issued shares of common stock under IIP’s “at-the-market” offering program (ATM Program) for net proceeds of approximately $9.6 million.

Key Points: 
  • Issued shares of common stock under IIP’s “at-the-market” offering program (ATM Program) for net proceeds of approximately $9.6 million.
  • Executed a new lease with a tenant at one of IIP’s retail properties in Michigan that was previously leased to Green Peak.
  • Industrial (cultivation and/or processing), retail (dispensing) and combined industrial/retail represent 92%, 2% and 6% of the operating portfolio, respectively.
  • Innovative Industrial Properties, Inc. will conduct a conference call and webcast at 10:00 a.m. Pacific Time (1:00 p.m. Eastern Time) on Tuesday, February 27, 2024 to discuss IIP’s financial results and operations for the fourth quarter and year ended December 31, 2023.

IMC Announces Potential Reverse Merger with Kadimastem a leading Clinical cell therapy company

Retrieved on: 
Wednesday, February 28, 2024
Regulation, Person, News, Canadian Securities Exchange, Sale, KDST, Par value, Diabetes, ALS, Term sheet, Biotechnology, Legacy, Loan, Spin-off (media), CVR, Loan agreement, IMCC, Transaction, Date, Holding company, FDA, Debtor, Executive, Tel Aviv Stock Exchange, Security (finance)

TORONTO and GLIL YAM, Israel, Feb. 28, 2024 /PRNewswire/ -- IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) (the "Company" or "IMC"), a leading medical cannabis company with operations in Israel and Germany, is pleased to announce that it has entered into a non-binding term sheet dated February 13, 2024, as amended (the "Term Sheet"), and a Loan Agreement (as defined below) with Holding Company (as defined below), with Israel-based Kadimastem Ltd a clinical cell therapy public company traded on the Tel Aviv Stock Exchange under the symbol (TASE: KDST) ("Kadimastem"), whereby the parties will complete a business combination that will constitute a reverse merger into the Company by Kadimastem (the "Proposed Transaction").

Key Points: 
  • We have been looking for a way to deliver maximum value for our shareholders in the current situation and believe that a reverse merger with Kadimastem will provide this," said Oren Shuster, CEO of IMC.
  • "With its focus on clinical stage cell therapy, and an FDA approval for a Phase IIa clinical trial, we believe that Kadimastem has tremendous potential."
  • The Proposed Transaction will be effected by way of a plan of arrangement involving a newly created wholly-owned subsidiary of IMC and Kadimastem (the "Arrangement").
  • Pursuant to the terms of the Term Sheet, a loan agreement dated February 28, 2024 (the "Loan Agreement") was entered between IMC Holdings Ltd. a wholly-owned subsidiary of IMC (the "Holding Company") and Kadimastem.

Dundee Corporation Announces Results of Substantial Issuer Bid for Its Series 3 Preferred Shares

Retrieved on: 
Thursday, December 28, 2023
Rate, Dundee Corporation, Loan, News, Loan agreement, Treasury, Letter, Creditor, TSX, Investment, Security (finance)

Based on the report of Computershare Investor Services Inc., as depositary for the Offer (the “Depositary”), 914,040 Series 3 Shares were tendered to the Offer.

Key Points: 
  • Based on the report of Computershare Investor Services Inc., as depositary for the Offer (the “Depositary”), 914,040 Series 3 Shares were tendered to the Offer.
  • All Series 3 Shares purchased by the Corporation under the Offer will be cancelled in due course.
  • The Series 3 Shares purchased under the Offer represent approximately 55.8% of the Series 3 Shares issued and outstanding before giving effect to the Offer.
  • After giving effect to the cancellation of the Series 3 Shares purchased by the Corporation under the Offer, 724,982 Series 3 Shares will be issued and outstanding.

Trevena Announces the Closing of $4 Million Concurrent Private Placement and Warrant Exercise

Retrieved on: 
Thursday, December 28, 2023
Sale, Form, Act, Loan agreement, CNS, Patient, Central nervous system, The Act, Tranche, Exercise, Security (finance)

The shares of common stock issued upon exercise of the existing warrants are registered pursuant to an effective registration statement on Form S-3 (File No.

Key Points: 
  • The shares of common stock issued upon exercise of the existing warrants are registered pursuant to an effective registration statement on Form S-3 (File No.
  • 333-251006), filed with the U.S. Securities Exchange (“SEC”) on November 27, 2020 and declared effective on December 4, 2020.
  • H.C. Wainwright & Co. acted as the exclusive placement agent for the offerings.
  • The aggregate gross proceeds to the Company from the offerings were approximately $4 million, before deducting placement agent fees and other offering expenses.

Trevena Inc. Announces $4 Million Concurrent Private Placement and Warrant Exercise

Retrieved on: 
Wednesday, December 27, 2023
Regulation D, Sale, Form, Act, Loan agreement, Trevena Inc, CNS, Patient, Central nervous system, The Act, Tranche, Exercise, Security (finance)

The shares of common stock issuable upon exercise of the existing warrants are registered pursuant to an effective registration statement on Form S-3 (File No.

Key Points: 
  • The shares of common stock issuable upon exercise of the existing warrants are registered pursuant to an effective registration statement on Form S-3 (File No.
  • 333-251006), filed with the U.S. Securities Exchange (“SEC”) on November 27, 2020 and declared effective on December 4, 2020.
  • H.C. Wainwright & Co. is acting as the exclusive placement agent for the offerings.
  • The aggregate gross proceeds to the Company from the offerings are expected to be approximately $4 million, before deducting placement agent fees and other offering expenses.

HEALWELL AI Provides Update on Short Form Prospectus Offering

Retrieved on: 
Saturday, December 16, 2023
Marketing, NOT, Strategic alliance, WIRE, Loan, Education, News, AIDX, WELL, NEWS, AI, Loan agreement, Ontario Securities Commission, OSC, TSX, MCI, Data science

TORONTO, Dec. 15, 2023 (GLOBE NEWSWIRE) -- HEALWELL AI Inc. (“HEALWELL” or the “Company”) (TSX: AIDX) (OTCQX: HWAIF), a data science and AI company focused on preventative care, announces that, further to customary review by the Ontario Securities Commission (the "OSC") of the Company's continuous disclosure in connection with the Company’s short form prospectus offering, OSC staff has requested that the Company file the strategic alliance agreement dated October 1, 2023 (the “Strategic Alliance Agreement”) between the Company and WELL Health Technologies Corp. (“WELL”) as a material contract of the Company. In addition, the Company is pleased to announce that MCI Medical Clinics Inc. (“MCI Medical Clinics”) and WELL have agreed to extend the maturity date of MCI Medical Clinics’ credit facility until April 30, 2025.

Key Points: 
  • In addition, the Company is pleased to announce that MCI Medical Clinics Inc. (“MCI Medical Clinics”) and WELL have agreed to extend the maturity date of MCI Medical Clinics’ credit facility until April 30, 2025.
  • The Company and WELL may also enter into one or more technology licensing agreements in respect of certain healthcare technologies and services developed or acquired by the Company from time to time.
  • The Strategic Alliance Agreement is effective as of October 1, 2023 and will continue until it is terminated mutually by the parties or otherwise in accordance with its terms.
  • A copy of the Amending Agreement has been filed under the Company’s SEDAR+ profile at www.sedarplus.com .