Rocket Secures Credit Facility From Hercules Capital
MT Newswires Live
Oct 07
Rocket Pharmaceuticals (RCKT) said late Tuesday it has entered into a credit facility agreement with Hercules Capital (HTGC) for up to $150 million, including $35 million at closing.
The facility has an initial 30-month interest-only period and a 48-month maturity, with extensions available upon achievement of specified milestones, the firm said, adding that the financing also includes warrants to purchase Rocket shares.
The facility will strengthen its financial position and help support its phase 2 study of RP-A501 in Danon disease and advance its broader cardiovascular pipeline, the company said.
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