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BRIEF-Strongbridge Biopharma secures $53 mln financing from CRG
July 17, 2017 / 11:45 AM / 2 months ago

BRIEF-Strongbridge Biopharma secures $53 mln financing from CRG

July 17 (Reuters) - Strongbridge Biopharma Plc-

* Strongbridge Biopharma Plc secures $53 million financing from crg

* Strongbridge Biopharma- entered into $50 million senior credit facility with crg lp to retire its existing debt facility and provide additional capital for co

* Strongbridge Biopharma Plc - strongbridge initially borrowed $40 million under term loan agreement

* Strongbridge Biopharma Plc - concurrent with the first tranche, crg purchased $3 million of company’s ordinary shares at a price of $6.98 per share

* Strongbridge Biopharma Plc - term loan agreement has a six-year term with three years of interest-only payments

* Strongbridge Biopharma Plc - co initially borrowed $40 million under term loan agreement and has option to borrow an additional $10 million Source text for Eikon: Further company coverage:

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