NNVC - NanoViricides, Inc. Message Board

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Biotech / Medical : NNVC - NanoViricides, Inc.

NNVC 1.255

+3.7%

Dec 19 3:59 PM EST

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To: old 'n cranky who wrote (12472)	12/3/2019 11:27:33 AM
From: Straynut	Read Replies (2) of 12873

"The Company anticipates completing additional financing soon based on a secondary public offering of the Company's common stock to further bolster its cash position as it is working on progressing its first drug candidate into human clinical trials. Approximately $1 million will be made available immediately upon execution of a definitive agreement and an additional $1 million will be made available in a second tranche in January 2020, or later, at the Company's discretion. The Company is not required to accept the second tranche if it does not need the funds at that time. The loan will be for a term of one year and will bear an interest rate of 1% per month. A commitment fee of 10,000 shares of Series A preferred stock of the Company will be payable upon execution of the agreement. The loan will be secured by a mortgage on the Company's facility at 1 Controls Drive, Shelton, CT. The terms of the loan were accepted by the independent members of the Company's Board of Directors, with Dr. Diwan recused from any discussions." accesswire.com

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