Evelo Biosciences Announces $45 Million Loan Agreement with Horizon Technology Finance Corporation to Refinance Existing Debt

December 16, 2022

https://www.globenewswire.com/news-release/2022/12/16/2575320/0/en/Evelo-Biosciences-Announces-45-Million-Loan-Agreement-with-Horizon-Technology-Finance-Corporation-to-Refinance-Existing-Debt.html

CAMBRIDGE, Mass., Dec. 16, 2022 (GLOBE NEWSWIRE) — Evelo Biosciences, Inc. (Nasdaq:EVLO), a clinical stage biotechnology company developing a novel platform of orally delivered medicines acting on the small intestinal axis, SINTAX, today announced it has entered into a senior secured loan agreement with Horizon Technology Finance Corporation (Horizon) (Nasdaq:HRZN), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services and sustainability industries. The $45 million term loan, which provides for three years of interest-only payments followed by a two-year amortization period, replaces the Company’s existing senior secured debt which would have begun amortizing in March 2023.

Read more at globenewswire.com

Related news for (EVLO)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.