"Can't PEN tap into their $100m facility if they need cash for development instead of cap raising...just another option I guess"
They can Simon (subject to Pala's approval) but its just a form of cap raise (as it is an 'equity facility' not a 'line of credit') and probably more dilutionary than other options, as it includes attached 2-yr options.
Ann: PEN Investor Update - May 2012 , page-58
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