No, not the way I read it. Interest only until Nov 2024 (3 years). Final payment due no later than Nov 2026.
As to getting an extension on the extra $30m that extension was for less than 12 months with SI persuading Oaktree that they were confident that the resubmitted BLA would lead to commercial sales and the company could pay back everything and the warrants would make a profit for Oaktree. Now that the BLA resubmission has failed the financial postition of the company is much worse and the intellectual property is worth substantially less. Any hope of comercialisation probably hinges on doing another trial of unknown time and funding with no gurantee of success, Congestive Heart failure needs another trial of several years, Covid isn't happening and Back Pain has no funding. SI is in a very weak position to be renegotiating anything with Uncle Oaktree. Then there are the loan covenants with Oaktree and Novaquest...
Cell Therapy News/Articles, page-16822
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