ImpediMed (ASX:IPD) subsidiary, ImpediMed, secured a five-year $15 million growth capital facility with US-based specialist finance company SWK Funding, according to a Thursday filing with the Australian bourse.
The facility will be used for growth and commercialization activities, with $10 million available immediately in tranche one and $5 million available in tranche two if the company meets sales targets for the current fiscal year and decides to draw on the facility, the filing said.
ImpediMed shares rose 3% in afternoon trade Thursday.
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