Oxford Provides $15MM Debt Financing to diaDexus
diaDexus announced it has entered into a $15 million senior secured term loan with Oxford Finance. The company will use the funding to refinance its existing $8.1 million debt from Comerica and advance the company’s development and commercialization of additional diagnostic testing solutions.
Select terms of the loan include:
Interest rate equal to 6.95% per annum; interest-only payments through August 31, 2015, followed by 36 equal monthly principal and interest payments; diaDexus will issue warrants to Oxford for the right to purchase an aggregate of 909,090 shares of the company’s common stock at an exercise price of $0.66 per share
San Francisco, CA-based diaDexus develops and commercializes proprietary cardiovascular diagnostic products addressing unmet needs in cardiovascular disease.