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Stock impact report

MeiraGTx Shares Jump After Up to $100 Million Financing Agreement [MarketWatch]

MeiraGTx Holdings plc - Ordinary Shares (MGTX) 
Company Research Source: MarketWatch
to bolster its balance sheet and help with the development of clinical-stage product candidates and preclinical programs. In afternoon trading, the shares were 20% higher at $9.39, narrowing the year-to-date drop to 60%. MeiraGTx said the credit facility agreement with affiliates of Perceptive Advisors, which is collateralized by manufacturing facilities in London and Shannon, Ireland, included $75 million on closing and an additional $25 million that can be requested during the first two years of the term. The facility will be interest-only for four years, with the principal due Aug. 2, 2026. The interest rate is 10% plus the greater of 1% or one-month term SOFR. The company said it issued warrants to Perceptive exercisable into 400,000 shares with an exercise price of $15 each, and additional warrants exercisable into 300,000 shares exercise at $20 each. Write to Robb M. Stewart at robb.stewart@wsj.com Read Next Dow Jones Newswires is a market-moving financial and busine Show less Read more
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