CytoSorbents Entered Into A New $20M Credit Facility With Avenue Capital Group
Portfolio Pulse from Benzinga Newsdesk
CytoSorbents has secured a $20M credit facility from Avenue Capital Group to support its CytoSorb® franchise, FDA and Health Canada applications for DrugSorb™-ATR, and refinance existing debt.
July 02, 2024 | 11:10 am
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CytoSorbents has entered into a $20M credit facility with Avenue Capital Group to provide non-dilutive working capital for its CytoSorb® franchise, FDA and Health Canada applications for DrugSorb™-ATR, and to refinance existing debt.
The $20M credit facility provides CytoSorbents with significant non-dilutive working capital, which is crucial for ongoing operations and regulatory applications. This financial support is likely to be viewed positively by investors, potentially boosting the stock price in the short term.
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