Nexstim Plc has entered into an agreement on a financing arrangement that is conditional on the approval of the AGM
Helsinki, Finland: 11 December 2017 – Nexstim Plc (NXTMH:HEX, NXTMS:STO), a medical technology company developing and marketing pioneering navigated non-invasive brain stimulation systems for both therapeutic and diagnostic applications, announced in a company release published on 16 October 2017 that it was negotiating a financing arrangement, as described in the company release, with a European growth debt provider.
Today Nexstim announces that it has entered into a loan agreement with Kreos Capital V (UK) Limited. In the Financing Arrangement, Kreos will grant Nexstim a senior secured term loan facility of € 4 million. Loans drawn down under the Loan Agreement will carry interest at the rate of 10.75% per annum.
More info on Nexstim’s website.