Oxford Finance Provides $24MM of Financing to Zongenix
Zogenix announced it entered into a loan and security agreement with Oxford Finance for term loans of up to $20 million and a revolving line of credit of $4 million. The company said the proceeds will be used for working capital and general corporate purposes.
According to a related 8-K filing, the group of lenders included Silicon Valley Bank. Oxford Finance was shown to have acted in the capacity of collateral agent.
The interest rate on the term loans will be the greater of 8.75% or the sum of the prime rate plus 5.25%.