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Nuvo stands to raise $112.5mm in debt from Deerfield to fund proposed Aralez transaction

Executive Summary

Nuvo Pharmaceuticals Inc., to support the proposed concurrent $110mm purchase of Aralez Pharmaceuticals Inc.'s Canadian specialty pharmaceutical business (Tribute) and Vimovo royalties under a separate non-binding letter of intent, plans to receive a six-year, 3.5% senior secured debt facility of $112.5mm from Deerfield. Nuvo would issue Deerfield 43.6 mm common share purchase warrants exercisable at $3.53. The financing is contingent upon Nuvo's execution of a definitive agreement with Aralez by August 19, 2018.
Deal Industry
  • Biotechnology
  • Medical Devices
  • Pharmaceuticals
    • Drug Delivery
      • Controlled Release
      • Topical Delivery
      • Transdermal
    • OTC, Consumer
    • Specialty Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Convertible Debt
    • Private Placement
    • Nonconvertible Debt

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