Mainz Biomed Secures up to $50M in New Funding
Portfolio Pulse from Benzinga Newsdesk
Mainz Biomed NV (NASDAQ:MYNZ), a molecular genetics diagnostic company, has secured a $50 million Pre-Paid Advance Agreement (PPA) with Yorkville Advisors Global, LP, a global investment management firm. In addition, the company and Yorkville have entered into a $5.5 million Promissory Note, with approximately $5.0 million funded at closing.
June 29, 2023 | 7:18 am
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Mainz Biomed NV has secured significant funding which could boost its operations and potentially its stock price.
The secured funding of $50 million and the $5.5 million Promissory Note will provide Mainz Biomed with significant financial resources. This could enable the company to expand its operations, invest in research and development, and potentially increase its market share. All these factors could have a positive impact on the company's stock price in the short term.
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