bluebird (BLUE) Gets $175 Million Loan From Hercules, Shares Up
BLUEbluebird bio(BLUE) Zacks Investment Research·2024-03-19 20:46

bluebird bio, Inc. (BLUE) announced that it has received a 175millionfive−year,termloanfacilityfromHerculesCapital,Inc.(HTGC).Thefundingwillextendbluebird’scashrunawaybytwoyears.Thecompany’ssharesrose1.4175 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 ...