Vivus (NASDAQ:VVUS) Closing price $10.63
On Tuesday, Vivus reported that it entered into a $110 million non-equity financing with an investment fund managed by Pharmakon Advisors. Through the terms, the firm will make an initial draw of $50 million and will have the option to draw a further $60 million at any time before December 31, 2013. Vivus will make no payments for the first year, and repayments will commence in the second quarter of 2014 and end in the second quarter of 2018, and will be based on scheduled quarterly amounts.
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