10th Oct 2024 09:10
Argent BioPharma Ltd - Subiaco, Western Australia-based drug discovery company - Refinances 300,000 in convertible notes, each with a face value of AUD1.00, from a facility that currently totals AUD1.6 million, about GBP824,050. Mercer Street Global Opportunity Fund LLC, a fund managed by US-based institutional fund manager Mercer Street Capital Partners LLC, provided the facility back in 2020. At the time Mercer Street agreed to provide Argent BioPharma with up to AUD15 million, or GBP7.7 million, in funding through subscriptions for convertible notes. As part of the refinancing, the minimum conversion price of the notes into Argent shares has been reduced from no less than AUD10.00 to no less than AUD0.30, about 15.4 pence. Read More
