Public Biotechnology Company

Restructuring & $10.5 Million Credit Facility

The Client

A publicly traded Biotechnology company, is a leader in genetic, research, pharmaceutical and diagnostic communities through the discovery, development and manufacture of proprietary life science technologies and consumables for disease prevention, treatment and cure.

The Situation

The company had lost their credit facility with their conventional lender and incurred massive losses due to legal costs associated with defending their patents. Due to its heavy debt load, the company was unable to find a new credit facility.

The Solution

Business Capital restructured all of the company’s accounts payable liabilities with over 50 creditors and arranged a $1 million credit facility . By dealing amicably and efficiently with the large number of creditors, the restructuring process was fast, cost-effective and resulted in aggregate savings of 75%, fulfilling the lender’s condition of funding the new credit facility.

 

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