MindWalk Lands Binding Commitment for US$30 Million Unsecured Credit Facility to Fund Biologics Programs and Commercial Expansion
MindWalk Holdings (NASDAQ: HYFT) landed a binding commitment from Sanabil (Cayman) for a senior unsecured revolving credit facility of up to US$30 million to fund its biologics programs, commercial expansion, and working capital. The facility carries a fixed 7.00% rate accruing only on drawn amounts, a 36-month initial term extendable by 12 months, and a one-time 1.00% opening fee, with no financial maintenance covenants, no warrants or equity conversion, no asset pledge, and no penalty for early repayment.
Key figures
- Deal Value Usd
- 30000000
- Covenants
- no financial maintenance covenants
- Prepayment
- allowed without penalty; no unused line fee
- Opening fee
- 1.00% one-time
- Asset pledge
- none
- Facility type
- senior unsecured revolving credit facility
- Interest rate
- 7.00% fixed, accruing only on amounts drawn
- Target closing
- within 60 days
- Initial term months
- 36
- Mac condition to close
- none
- Warrants or conversion
- none
- Extension option months
- 12
AI analysis
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