PDL BioPharma Inc. (PDLI)

[surf1944]

7:00AM PDL BioPharma provides $60 mln in financing to LENSAR (PDLI) 8.08 : Co announced that it closed a financing transaction with LENSAR,in which PDL will provide LENSAR with up to $60 mln of debt financing, as part of an $87 mln total financing for LENSAR. The total financing of up to $60 mln was provided pursuant to a credit agreement that included an initial $40 mln in cash funded to LENSAR on October 1, 2013, and provides up to $20 mln in additional funds to LENSAR by September 30, 2014, upon the accomplishment of a specified milestone. In exchange, PDL received a security interest in all of LENSAR's assets and will receive interest on the principal amount outstanding.