Argent Biopharma (AU:RGT) has released an update.
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Argent BioPharma has renegotiated the terms of their 2020 convertible securities agreement with Mercer Street Global Opportunity Fund, now setting a new minimum conversion price for 300,000 notes at A$0.30, significantly lower than the previous A$10.00. This move is part of their broader strategy to refinance their convertible note facilities, aiming for similar amendments to their remaining financial agreements. The company is known for its focus on developing multi-target therapies, particularly for CNS and immunology treatments.
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