Valneva: Valneva, an Austrian/French specialty vaccine company focused on prevention against diseases with major unmet needs, today announced an amendment to the terms of its existing debt facility with US-based healthcare investment firms Deerfield Management Company and OrbiMed. Noting the COVID-19 pandemic impact on the travel industry, and following a temporary waiver of the revenue covenant for the second half of 2020, Valneva, Deerfield and OrbiMed have agreed to modify this covenant for 2021 and 2022, replacing the twelve month rolling Euro 115 mn with quarterly minimum revenues representing an annual total of Euro 64 mn in 2021 and an annual total of Euro 103.75 mn in 2022. The parties have also agreed to modify the minimum cash requirement to Euro 50 mn for 2021 and 2023 and to ...Den vollständigen Artikel lesen ...
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