This is a smart move by management and a good result for holders.
Radium Capital are specialists in the R&D loan advance space and the terms look very reasonable in the current higher interest rate environment - potentially around 12%.
The company flagged this as an option months ago and now they've bought the company time and avoided a dilutionary bridging raise at these cheap prices.
It's incredibly refereshing and this what can happen when a very modestly paid management has major skin in the game.
The company on many occasions has stated the trials won't proceed until a capital raise occurs.
Today's announcement gives a high level of confidence the company are committed to raising at prices well north of here.
Imho & Gltah
IRX Price at posting:
2.9¢ Sentiment: Buy Disclosure: Held
