Mesoblast Limited (AU:MSB) has released an update.
Mesoblast Limited has secured a convertible note subscription agreement for up to $50 million with its largest shareholder to fund the launch of its lead product, Ryoncil, pending FDA approval for treating children with a severe immune disease. The company is preparing a targeted commercial strategy that includes building a specialized sales team and engaging with key medical centers. The financial deal includes terms such as a 5% annual coupon on the notes, with the option for the investor to convert these notes into shares at a premium price.
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