RAP will receive around $1.6M of R&D rebate in Q4 (like last year) so very doubtful they can't repay this $600K bridging loan. I think RAP just need the short term funds for this quarter, however, the important part of this announcement is Pfizer isn't going to increase their bid without others bids occurring.
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Ann: Best and Final Confirmation and Bridging Loan, page-74
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