Codexis (CDXS) has released an update.
Codexis, Inc. has secured a financing deal with Innovatus Life Sciences, obtaining up to $40 million in term loans, with an initial $30 million already funded. The loans will support general business needs and working capital, with a potential additional $10 million available upon meeting specific revenue milestones. The agreement also includes the issuance of warrants for Innovatus to purchase company stock, adding a strategic equity component to the financial arrangement. This move demonstrates Codexis’ active management of its capital structure to fuel its ongoing operations and growth initiatives.
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