(RTTNews) - Mesoblast Limited (MESO), a commercial-stage biotechnology company, announced that it has drawn $50 million from a five-year facility provided by Gregory George, a director and shareholder of the company.
The company intends to use the credit facility to support its commercial operations and pipeline growth, while optimizing its capital structure through repayment of debt liability owed to NovaQuest Capital Management LLC and other short-term debt obligations.
Under the terms of the agreement, the company is required to carry out repayment of the facility using Temcell1 royalties, at a fixed interest rate of 8.00% per annum with a five-year interest only period.
As of March 30, 2026, the company reported cash holdings totalling $122 million.
Mesoblast has traded between $10.32 and $21.50 over the last year.
MESO closed Wednesday at $15.55, up 1.11%.
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