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The latest announcement is out from Telesis Bio (TBIO).
Telesis Bio Inc. has secured a $5.85 million loan through promissory notes with major stakeholders Novalis Lifesciences II and Northpond Ventures III, carrying a 12% annual interest rate and due by January 2026. In tandem with this borrowing, the company settled all previous debts under its agreements with MidCap Financial Trust and MidCap Funding IV, totaling $5,842,651.25. Additionally, the lenders have gained significant influence by agreeing to a side letter that stipulates the expansion of Telesis Bio’s Board to 13 directors and the appointment of five lender-nominated directors. This move consolidates the lenders’ strategic involvement in the company’s governance, reflective of their substantial ownership interest.
See more insights into TBIO stock on TipRanks’ Stock Analysis page.