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BRIEF-Sorrento Therapeutics- co, units, Hercules enters into a fourth amendment to a loan and security agreement
March 24, 2017 / 10:15 AM / 5 months ago

BRIEF-Sorrento Therapeutics- co, units, Hercules enters into a fourth amendment to a loan and security agreement

March 24 (Reuters) - Sorrento Therapeutics Inc:

* Sorrento Therapeutics- on March 23, 2017, co, units, Hercules entered into a fourth amendment to that certain loan and security agreement

* Sorrento Therapeutics Inc - loan agreement provides for a term loan of up to $75.0 million, subject to funding in multiple tranches

* Sorrento Therapeutics Inc - under amendment, hercules reduced minimum amount of unrestricted cash that company must maintain under loan agreement

* Sorrento Therapeutics-as per amendment, co to repay to hercules, without repayment penalty, $20.0 million of outstanding principal, unpaid interest accrued thereon

* Sorrento Therapeutics Inc - under amendment, parties agreed to change date by which company must achieve a fundraising milestone

* Sorrento Therapeutics Inc - in accordance with amendment, on March 23, 2017, company repaid repayment amount Source text:(bit.ly/2mXTlpH) Further company coverage:

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