why would someone is agreed for warrants to purchase shares at $4.67 per shares . Read the news from last week. ==== The facility will disburse term loans in three tranches. Following the satisfaction of customary closing condition, the company was funded with $5 million.
The company noted that out of the remaining $30 million, $15 million will be disbursed if Twirla, its experimental hormonal contraceptive patch, is approved by the FDA, and $15 million upon the achievement of certain revenue milestones.
Agile is allowed to pay only interests on the loan until Feb. 2023.Related to the credit agreement, the company issued Perceptive warrants to purchase 1.4 million shares of its common stock at $3.74 per share exercise price for 70,000 shares and at $4.67 per share for the remaining 700,000 shares.
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