QualityStocksNewsBreaks – VERAXA Biotech AG Secures $27.5 Million Senior Secured Financing and $50 Million Equity Line Ahead of Planned Nasdaq Listing
VERAXA Biotech, a portfolio company of Xlife Sciences AG (SIX: XLS), secured $27.5 million in senior secured convertible note financing from High Trail Capital LP and entered into a share purchase agreement providing access to up to $50 million in equity financing with Lincoln Park Capital Fund LLC. The financing arrangements are intended to strengthen VERAXA’s financial position ahead of its planned business combination with Voyager Acquisition Corp. and anticipated listing on the Nasdaq Capital Market. The High Trail Capital financing includes a 15-month senior secured convertible note and warrants exercisable over four years at an initial exercise price of $11.50 per share, while the…