Onconetix provides up to $5 million bridge financing to Realbotix ahead of pending acquisition
ONCO•Bridge financing provided ahead of all-stock acquisition
Onconetix provided a non-interest-bearing bridge facility of up to $5 million to Realbotix, its pending acquisition target.
$2.5 million was advanced immediately to fund Realbotix growth and working capital while the all-stock deal progresses.
The facility is cancelled at closing; closing cash is reduced by the principal advanced, further reduced by an additional $500,000.
If the share exchange is terminated, the facility begins accruing interest at 12% per year from the termination date.
