Benzinga | Jan 20, 2021 07:04AM EST

AVEO Oncology Announces Commitment For Incremental $10M Loan In Addition To Current Tranched, $35M Debt Facility With Hercules Capital

AVEO Oncology (NASDAQ:AVEO) today announced that it has received a commitment letter for an incremental $10 million loan from Hercules Capital, Inc. (NYSE:HTGC, &quot, Hercules&quot, ))))) and its affiliates, to be added to the current tranched, $35 million debt facility secured with Hercules in August 2020 through an amendment to the amended and restated loan and security agreement (the "Loan Agreement"). Terms of the facility would remain otherwise unchanged from the Loan Agreement, with the loan bearing a maturity of 36 months, extendable up to 48 months, and an interest-only period of 12 months, extendable up to 30 months upon the achievement of performance milestones related to the approval and commercialization of tivozanib.