Procaps Group Appoints Interim CFO and Secures $40M Funding

Procaps Group ( (PROC) ) has provided an update.

Procaps Group has appointed Daniel Bernal as Interim Chief Financial Officer to oversee their financial reporting and restatement process. Mr. Bernal, who is a Managing Partner at Moore Colombia, brings over 29 years of experience in professional services and auditing. Additionally, Procaps Group has secured $40 million in funding through a Convertible Note Subscription Agreement with Hoche Partners Pharma Holdings S.A., with the final $20 million installment issued on December 27, 2024. The funding is expected to support the company’s financial operations until mid-2025, with notes bearing an annual interest rate of 8.50%.

More about Procaps Group

YTD Price Performance: -43.98%

Average Trading Volume: 102,721

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $257.2M

See more data about PROC stock on TipRanks’ Stock Analysis page.