Recce Pharmaceuticals Extends Debt Facility with Avenue Capital
Key points
- Interest-only period extended to 31 December 2026
- Potential further extension to 30 September 2027
- Tranche 2 draw period extended to 31 December 2026
- Additional warrants issued to Avenue Capital
Full summary
Recce Pharmaceuticals Ltd has amended its debt facility with Avenue Capital Group, extending the interest-only period to 31 December 2026, with potential further extension to 30 September 2027, contingent on equity funding and clinical milestones. The draw period for Tranche 2 of the US$5m facility has also been extended to 31 December 2026. The company will issue 493,103 additional warrants to Avenue Capital as consideration for the amendments.
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