NOVATO, Calif., July 1, 2014 (GLOBE NEWSWIRE) -- Raptor Pharmaceutical Corp. (Nasdaq:RPTP) today announced that it has entered into agreements for $70 million in funding from HealthCare Royalty Partners (HC Royalty) and its affiliates in a private placement. The funding includes $60 million in new convertible senior notes and an additional $10 million of funding pursuant to an amended and restated loan agreement, originally signed on December 20, 2012. The new capital will be used for expansion of the company's manufacturing capacity, expansion of commercial operations in Europe, advancement of the company's development programs and general corporate purposes, including working capital. Closing is expected to occur by the end of July 2014 and is subject to customary closing conditions under both the convertible note financing agreement and the amended and restated loan agreement.
Raptor Pharmaceutical Enters Into $70 Million Financing Transaction And Amended Loan Agreement With HealthCare Royalty Partners
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts