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Aptevo Therapeutics Inc. (APVO)

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Last Post: 3/24/2022 1:40:50 PM - Followers: 13 - Board type: Free - Posts Today: 0

SEATTLE--(BUSINESS WIRE)--August 01, 2016-- Aptevo Therapeutics Inc. ("Aptevo"; "the Company") (Nasdaq:APVO), a biotechnology company focused on developing novel oncology and hematology therapeutics, announced today that it has reached agreement with MidCap Financial on the final terms on a $35 million term loan. The agreement provides Aptevo with up to $35 million of available borrowing capacity, which will be available to the Company in two tranches of $15 million to $20 million, at the Company's discretion, through January 2021. The agreement bears interest at a rate of LIBOR plus 7.60% per annum. The parties expect to close the transaction at the end of the week, provided certain closing conditions are met. The Company expects to draw the first tranche in August 2016, and will be able to access the second tranche after the Company achieves net commercial products revenue of $40 million on a trailing twelve month basis and receives the $20 million balance of the Emergent BioSolutions cash injection. This $20 million amount is secured by a non-negotiable, unsecured promissory note and will be received within six to 12 months of the separation. Marvin White, President and Chief Executive Officer of Aptevo, stated: "We are pleased to partner with MidCap Financial on this agreement. We believe this financing, along with the $65 million total cash contribution from Emergent BioSolutions and the cash flows generated from our commercial product portfolio, provide Aptevo with a solid cash position to pursue our strategy of bringing novel oncology and hematology therapeutics to market in order to enhance patients' lives and drive value for our shareholders." About Aptevo Therapeutics Aptevo Therapeutics Inc. is a biotechnology company focused on novel oncology and hematology therapeutics to meaningfully improve patients' lives. Its core technology is the ADAPTIR(TM) (modular protein technology) platform. Aptevo has four revenue-generating products in the areas of hematology and infectious diseases, as well as various investigational stage product candidates in immuno-oncology. Safe Harbor Statement This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact, including, without limitation, statements regarding the potential opportunities and financial impact of the transaction, our technology and related pipeline, collaboration and partnership opportunities and any other statements containing the words "believes," "expects," "anticipates," "intends," "plans," "forecasts," "estimates," "will" and similar expressions are forward-looking statements. These forward-looking statements are based on Aptevo's current intentions, beliefs and expectations regarding future events. Aptevo cannot guarantee that any forward-looking statement will be accurate. Investors should realize that if underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could differ materially from Aptevo's expectations. Investors are, therefore, cautioned not to place undue reliance on any forward-looking statement. Any forward-looking statement speaks only as of the date of this press release, and, except as required by law, Aptevo does not undertake to update any forward-looking statement to reflect new information, events or circumstances. There are a number of important factors that could cause our actual results to differ materially from those indicated by such forward-looking statements, including possible negative effects on our business operations, assets or financial results as a result of the separation; a deterioration in our business or prospects; adverse developments in our customer-base or markets; adverse developments in the U.S. or global capital markets, credit markets or economies generally; and changes in regulatory, social and political conditions. Additional risks and factors that may affect results are set forth in our filings with the Securities and Exchange Commission, including our Registration Statement on Form 10, as amended. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from our expectations in any forward-looking statement. View source version on businesswire.com: http://www.businesswire.com/news/home/20160801005439/en/ CONTACT: Aptevo Therapeutics Stacey Jurchison, 206-859-6628 Senior Director, Investor Relations and Corporate Communications JurchisonS@apvo.com SOURCE: Aptevo Therapeutics Copyright Business Wire 2016 (END) Dow Jones Newswires August 01, 2016 07:30 ET (11:30 GMT) Story ID: 20160801SN005400 Keywords: COMPANY NEWS, THIRD-PARTY CONTENT, PRESS RELEASES AUTO-PUBLISHED ON TICKER, DOW JONES CONTENT SET SN, GRAND CENTRAL ASSET CLASS EQUITIES, PRESS RELEASES ON NEWSWIRES, HEALTH, BUSINESS WIRE, SIGNIFICANT STORY, HEALTH CARE, GENERAL NEWS, PRESS RELEASE WIRES, BIOTECHNOLOGY Symbols: APVO
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APVO News: Proxy Statement (definitive) (def 14a) 04/27/2022 04:32:29 AM
APVO News: Current Report Filing (8-k) 04/07/2022 12:24:38 PM
APVO News: Amended Current Report Filing (8-k/a) 03/30/2022 04:31:11 AM
APVO News: Current Report Filing (8-k) 03/29/2022 04:16:09 AM
APVO News: Prospectus Filed Pursuant to Rule 424(b)(5) (424b5) 03/29/2022 03:56:33 AM
#173   Run Run and don't look back just run ErnieBilco 03/24/22 01:40:50 PM
#172   APVO looking good today, up 25% on heavy buxmaker 03/24/22 01:21:21 PM
#171   Thanks 136. APVO's stock has gone straight down buxmaker 02/17/22 09:50:18 AM
#170   Yeah it was something about a disagreement regarding 136 02/17/22 08:31:22 AM
#169   APVO really turned down a $50 offer? buxmaker 02/16/22 01:13:13 PM
#168   Because he wants it too. pinkslipjunkie 12/22/21 04:03:46 PM
#167   Why and when? Tia PARker1703 12/06/21 03:56:30 PM
#166   APVO $$$$ EXPLODING BACK TO $20.00+.. halbroke1 12/06/21 11:45:29 AM
#165   Went back to where it was what apump Roadtojourney 12/03/21 04:10:06 PM
#164   The worst TeddyCaswell 12/02/21 10:30:13 AM
#163   You back in yet? $apvo low volume consolidation WealthyKing 11/29/21 11:25:57 AM
#162   Thinking $20's this week! $APVO Golden_Cross 11/29/21 02:51:26 AM
#161   APVO $$$ SHOULD MOVE BIG NEXT WEEK..SHOULD BE halbroke1 11/28/21 11:12:03 PM
#160   In small here...would love to see 15 again soon. WealthyKing 11/26/21 01:11:39 PM
#159   APVO turned down a $50 buyout offer! They Golden_Cross 11/26/21 09:12:42 AM
#158   APVO $$$ TIME FOR $50.00++,,,CRAZY CHEAP HERE !!! halbroke1 11/26/21 09:05:47 AM
#157   Looking good PM Golden_Cross 11/26/21 06:33:11 AM
#156   This pps should be at $30.00 PARker1703 11/24/21 11:23:50 AM
#155   let her climb. Surfacetite 11/24/21 10:46:17 AM
#154   oh yeah look $22 to 12 G2G 11/24/21 08:42:26 AM
#153   I had 10K shares avg 16.80 it ran G2G 11/24/21 08:26:46 AM
#151   True dinogreeves 11/23/21 10:13:08 PM
#150   looking like an eh day tomorrow Surfacetite 11/23/21 07:47:03 PM
#149   Back in here... see what it can do Golden_Cross 11/23/21 06:27:38 PM
#148   13.80 ah, now if I could just learn G2G 11/23/21 06:18:50 PM
#147   LightSpeed .... CenterPoint is also excellent for locate/borrows G2G 11/23/21 06:03:12 PM
#146   Thank God lol PennyPusher786 11/23/21 05:41:13 PM
#145   They don't make money off Cures, but on PennyPusher786 11/23/21 05:40:04 PM
#144   I like that reversal... luckily, didn't sell PennyPusher786 11/23/21 05:38:39 PM
#143   APVO $$$ GOING GREEN IN 30 MIN, OR halbroke1 11/23/21 05:30:18 PM
#141   Possible Cure for leukemia and other cancers is DDHOUND 11/23/21 05:27:13 PM
#140   APVO $$$ GOING BACK UP.. halbroke1 11/23/21 05:25:25 PM
#139   By who? Golden_Cross 11/23/21 05:24:18 PM
#138   I already made the mistake to hold from PennyPusher786 11/23/21 04:55:07 PM
#137   PennyP..I THNK $$$ APVO REVERSES AND BOUNCES HARD halbroke1 11/23/21 04:53:50 PM
#136   Still holding some... watching like a hawk and PennyPusher786 11/23/21 04:38:47 PM
#135   Pump and dump, just as expected PennyPusher786 11/23/21 04:36:30 PM
#134   I would say shorts won this battle. DDHOUND 11/23/21 04:36:08 PM
#133   This aged well lol... PennyPusher786 11/23/21 04:31:11 PM
#132   45k shares bought up right at close.... somebody PennyPusher786 11/23/21 04:01:32 PM
#131   A close of 20 - 22 into AH PennyPusher786 11/23/21 03:43:40 PM
#130   Looks like you winning. Which broker had the shares? DDHOUND 11/23/21 03:42:13 PM
#129   For the record, Ihub comments don't move or PennyPusher786 11/23/21 03:32:50 PM
#124   People thinking 30, 40, 100... this keeps reversing PennyPusher786 11/23/21 03:29:32 PM
#122   $30 would be enough. How much money you want?LOL. DDHOUND 11/23/21 03:20:47 PM
#121   SQUEEEEEEEEEZE THEM TO LAST DROP...... LOLZZZZZZZZZZZZZZZ cityimport 11/23/21 03:20:08 PM
#120   No I doubt that $30 is possible. DDHOUND 11/23/21 03:19:38 PM
#118   APVO $$$ COULD BE THE NEXT $100+ MOVER. halbroke1 11/23/21 03:11:10 PM
#117   I don't short, not bmy thing PennyPusher786 11/23/21 03:10:31 PM
#116   Schwab does not have any to short either. DDHOUND 11/23/21 03:07:01 PM
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