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Biora Therapeutics (BIOR) just unveiled an update.
Biora Therapeutics, Inc. has initiated a strategic financial maneuver involving a debt exchange and the issuance of new Payment Priority Notes, which are expected to raise up to $16 million by August 14, 2024. This move includes the exchange of existing convertible senior secured notes for new notes with payment priority and warrants for purchasing common stock. The transaction aims to restructure the company’s debt, giving it a stronger financial position and incentivizing investors with warrants to buy shares at a predetermined price. The company is also committed to seeking shareholder approval for the issuance of shares under Nasdaq rules and amending its indenture to reflect the new arrangements.
For a thorough assessment of BIOR stock, go to TipRanks’ Stock Analysis page.
