Opus Point Healthcare Innovations Fund closed a $25 million credit agreement with Fortress Biotech.

According to a related 8-K filing, all amounts borrowed under the credit facility agreement must be paid in full on September 14, 2018, although Fortress may prepay the notes at any time without penalty.

Each note will bear interest at 12% per annum and interest will be paid quarterly in arrears commencing on December 1, 2016 and on the first business day of each September, December, March and June thereafter until the maturity date.

Fortress may terminate the credit facility agreement upon notice to the lenders and payment of all outstanding obligations under the credit facility agreement.

Fortress Biotech is a biopharmaceutical company dedicated to acquiring, developing and commercializing novel pharmaceutical and biotechnology products.