Conduit Pharmaceuticals Announces The Restructuring Of A Portion Of Its Financial Obligations, Enhancing Its Balance Sheet And Liquidity; Restructured $2.65M Loan Note With Nirland Limited And Secured $1.2M In New Promissory Notes Through Separate Agreements With Third Parties
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Conduit Pharmaceuticals (NASDAQ:CDT) has restructured a $2.65M loan with Nirland Limited, removing restrictive clauses, and secured $1.2M in new promissory notes. This enhances its balance sheet and liquidity, allowing more flexibility in future financing.
November 01, 2024 | 8:48 pm
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Conduit Pharmaceuticals has restructured a $2.65M loan with Nirland Limited, removing restrictive clauses, and secured $1.2M in new promissory notes. This enhances its balance sheet and liquidity, allowing more flexibility in future financing.
The restructuring of the loan with Nirland Limited removes restrictive clauses, providing Conduit Pharmaceuticals with greater flexibility to raise new financing. Additionally, securing $1.2M in new promissory notes improves the company's liquidity position. These actions are likely to be viewed positively by investors, potentially leading to a short-term increase in the stock price.
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