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Stock impact report

Hemispherx Enters into Sale/Leaseback Agreement for NJ Development and Production Facility

HEMISPHERX BIOPHARMA (HEB) 
NASDAQ:AMEX Investor Relations: hemispherx.net/mobile/investor-relations.php
Company Research Source: GlobeNewswire
ORLANDO, Fla., Jan. 17, 2018 (GLOBE NEWSWIRE) -- Hemispherx Biopharma, Inc. (NYSE American:HEB), focused on pharmaceutical research, today said it has entered into a sale and leaseback agreement for the property it owns at 783 Jersey Lane, New Brunswick, NJ., which houses the company’s development and production facilities. Under the terms of the agreement, Hemispherx is selling the real estate for $4.0 million, and simultaneously entering into a 10-year lease with options to extend the lease for another 10-years. The company will retain the right to repurchase the property at any time during the initial lease. The facility’s lease payments under the agreement are offset by about 50% by the contemporaneous termination of the very expensive lease on its Philadelphia offices. The combination of these transactions raises cash for operations with only a modest increase in the burn rate. “This is a timely transaction for Hemispherx on favorable terms. It allows us to increase our produ Show less Read more
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