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RPTP > SEC Filings for RPTP > Form 8-K on 24-May-2013All Recent SEC Filings

Show all filings for RAPTOR PHARMACEUTICAL CORP | Request a Trial to NEW EDGAR Online Pro

Form 8-K for RAPTOR PHARMACEUTICAL CORP


24-May-2013

Creation of a Direct Financial Obligation or an Obligation under an Of


Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On May 21, 2013, Raptor Pharmaceutical Corp., a Delaware corporation (the "Company"), drew an aggregate of $25.0 million pursuant to the second tranche of its loan agreement (the "Loan Agreement") with HealthCare Royalty Partners II, L.P. ("HealthCare Royalty Partners"), dated December 20, 2012, which resulted in net proceeds to the Company of approximately $23.7 million. Pursuant to the terms of the Loan Agreement, the Company agreed to borrow an aggregate of $50.0 million in aggregate principal in two $25.0 million tranches. The first tranche was received in connection with the entry into the Loan Agreement. The receipt of the second tranche was triggered upon U.S. Food and Drug Administration approval of PROCYSBI™ for the potential treatment of nephropathic cystinosis in adults and children six (6) years and older, which the Company received on April 30, 2013.
For additional information regarding the Company's Loan Agreement with HealthCare Royalty Partners, see Item 1.01 and Item 2.03 of the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on December 26, 2012, which information is incorporated by reference herein.

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