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ARTICLE | Financial News

Tercica gets $75 million facility

October 15, 2005 12:13 AM UTC

TRCA entered into a committed equity financing facility (CEFF) with Kingsbridge Capital in which the private equity firm will provide TRCA with up to $75 million over three years through the purchase of newly issued stock. The stock would be priced at a 6-10% discount depending on the average closing price over an eight-day period. Also, Kingsbridge received a five-year warrant to purchase 260,000 shares at a 30% premium to the average close price over the five days before the deal. ...