bluebird (BLUE) Gets $175 Million Loan From Hercules, Shares Up
bluebird bio(BLUE) Zacks Investment Research·2024-03-19 20:46
bluebird bio, Inc. (BLUE) announced that it has received a $175 million five-year, term loan facility from Hercules Capital, Inc. (HTGC) . The funding will extend bluebird’s cash runaway by two years. The company’s shares rose 1.4% on the news.Per the terms of the agreement, bluebird will get the term loans in four tranches. The first tranche of $75 million was drawn upon the closing of the transaction. BLUE will be eligible to draw two additional tranches of $25 million each, subject to the achievement of ...