Onconetix Provides Strategic Bridge Financing to Realbotix LLC in Support of Pending Acquisition
Onconetix has provided a strategic bridge financing facility of up to $5,000,000 to Realbotix LLC, the target of its pending acquisition, with an initial advance of $2,500,000 to support Realbotix's growth and working capital ahead of closing. The facility is non-interest bearing prior to closing, and upon completion of the Share Exchange Agreement it and all obligations will be automatically cancelled and discharged in full. Cash required at closing will be reduced by the total principal advanced plus an additional $500,000. If the Share Exchange Agreement is terminated, interest accrues at 12% per annum from the termination date, giving Onconetix downside protection if the deal fails.
Key figures
- Initial advance
- 2500000
- Bridge facility total
- 5000000
- Termination interest rate
- 12% per annum
- Closing cash reduction extra
- 500000
AI analysis
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