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BRIEF-Curasan and Riemser Pharma agree on long-term financing covenant
October 20, 2015 / 9:54 AM / 2 years ago

BRIEF-Curasan and Riemser Pharma agree on long-term financing covenant

Oct 20 (Reuters) - Curasan AG :

* Curasan and Riemser Pharma GmbH have agreed on a long-term financing covenant regarding final payment of 2.4 million euros ($2.73 million) from reacquisition of dental regeneration business from Riemser

* Remaining tranche from reacquisition of dental business stretched until 2019

* Will retroactively repay debt outstanding from end of September 2015 onwards on a quarterly basis

* Amount of agreed payments have deliberately been linked to expected revenue growth of Curasan

* It will increase from initial 125,000 euros, through 150,000 euros as of 2017, to 200,000 euros as of 2018

* Now maintains sufficient liquidity to align company towards operating break-even on a monthly basis by end of 2016

* Company is planned to be free of remaining debt as of mid 2019 Source text for Eikon: Further company coverage: ($1 = 0.8801 euros) (Gdynia Newsroom)

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