MicroGenix Manufacturing has signed an agreement with Auctus Private Equity Fund for a USD35m drawdown line of credit to be used primarily to facilitate the company’s acquisition programme.
Auctus has committed to purchase up to USD35m of the company’s common stock on an "as-needed" basis for 36 months after a proposed registration statement of the common stock is declared effective by the Securities and Exchange Commission.
Upon the effectiveness of the line of credit, MicroGenix would be entitled to request up to USD150,000 per drawdown, subject to certain conditions and limitations.
Auctus Private Equity Fund is a private equity fund based in Boston, Massachusetts that specialises in providing funding to small, medium and large publicly-traded companies in all industries, as well as to private companies anticipating a near-term public listing.
