eFFECTOR Therapeutics Declared in Default on $75M Oxford Finance Loan
Portfolio Pulse from Benzinga Newsdesk
eFFECTOR Therapeutics has been declared in default on a $75M loan from Oxford Finance. The default notice cites material adverse changes and insolvency, making all obligations immediately due and payable with interest accruing at the default rate.
June 26, 2024 | 10:05 am
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eFFECTOR Therapeutics has been declared in default on a $75M loan from Oxford Finance due to material adverse changes and insolvency. This situation could lead to significant financial strain and potential legal actions.
The default on a $75M loan indicates severe financial distress for eFFECTOR Therapeutics. The immediate due payment and higher interest rates will likely strain the company's finances, potentially leading to further negative impacts on its stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100