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Unilife D.I.P. Financing Approval Sought

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Unilife filed with the U.S. Bankruptcy Court a motion for interim and final orders authorizing Debtors to obtain postpetition secured superpriority D.I.P. financing; authorizing cash collateral; granting adequate protection and scheduling a final hearing.

The D.I.P. Lender is ROS Acquisition Offshore, providing a commitment for 100% of the D.I.P. Facility. The D.I.P. Facility is a senior secured priming superpriority credit facility in a maximum principal amount of $7,500,000, the total commitment, consisting of (i) a term loan commitment of $1 million, the interim Term Loan Commitment, which shall be available upon entry of the interim Order; (ii) a term loan commitment in a maximum principal amount of $6,500,000, which shall be available upon entry of the Final Order, in three Advances to the Borrower, with the first Advance on the date that is 3 business days after entry of the Final Order and the second and third Advances on or about June 1, 2017 and June 30, 2017. The interest rate is 10% per annum payable monthly in cash in arrears on each monthly anniversary of the Petition Date.

More on the Unilife filing.

The post Unilife D.I.P. Financing Approval Sought appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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