Incannex Healthcare Entered Agreement To Issue Up To $10M In Secured Convertible Notes to Arena Investors And Its Affiliates; Will Also Secure $50M Equity Line Of Credit With Arana Business Solutions
Portfolio Pulse from Benzinga Newsdesk
Incannex Healthcare has entered into an agreement to issue up to $10 million in secured convertible notes to Arena Investors and its affiliates. Additionally, the company will secure a $50 million equity line of credit with Arana Business Solutions.
September 10, 2024 | 12:18 pm
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Incannex Healthcare has secured financial backing through a $10M convertible notes agreement and a $50M equity line of credit, potentially enhancing its financial stability and growth prospects.
The agreement to issue convertible notes and secure an equity line of credit provides Incannex Healthcare with significant financial resources. This can enhance the company's liquidity and support its growth initiatives, likely leading to a positive short-term impact on its stock price.
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