Zogenix, Inc. Repays Outstanding Loan With Oxford Finance LLC and Silicon Valley Bank
Published: Aug 01, 2012
SAN DIEGO, Aug. 1, 2012 (GLOBE NEWSWIRE) -- Zogenix, Inc. (Nasdaq:ZGNX), a pharmaceutical company commercializing and developing products for the treatment of central nervous system disorders and pain, today announced that it has repaid all amounts outstanding under its amended and restated loan and security agreement, or loan agreement, with Oxford Finance LLC and Silicon Valley Bank. This included payment of $19.5 million for principal and interest outstanding under the loan agreement. Zogenix was also required to make a final payment of $1.2 million and a prepayment premium of $0.4 million, or 2% of the outstanding principal balance. In conjunction with the repayment, Zogenix also paid a $0.1 million prepayment premium to terminate its $10.0 million revolving credit facility with Oxford Finance LLC and Silicon Valley Bank, which did not have an outstanding balance.