Isoray loans $6M to Viewpoint at 15%, secures all assets; Viewpoint CEO buys ISR shares

Perspective Therapeutics, Inc.

Isoray loaned $6M to Viewpoint at 15% interest, due Dec 31, 2023, secured by first-priority security interest in all Viewpoint personal property.
Loan proceeds to be used for Viewpoint business expenses in accordance with a budget approved by Isoray.
Viewpoint CEO Thijs Spoor and other officers/directors have purchased or may purchase shares of Isoray common stock on the open market.
The loan is bridge financing ahead of the planned merger of Viewpoint into a wholly owned subsidiary of Isoray (previously announced Sep 27, 2022).

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Perspective Therapeutics, Inc. entered into Promissory Note and Security Agreement with Viewpoint Molecular Targeting, Inc. valued at $6,000,000 (effective 2022-11-22).

Action: entry
Agreement: credit facility
Counterparty: Viewpoint Molecular Targeting, Inc.
Value: $6,000,000
Effective: 2022-11-22

Exact text from the filing

On November 22, 2022, Isoray, Inc. (the “ Company ”) entered into a Promissory Note and Security Agreement (the “ Note ”) with Viewpoint Molecular Targeting, Inc., a Delaware corporation (“ Viewpoint ”), pursuant to which the Company loaned the amount of $6,000,000 to Viewpoint (the “ Loan ”). The Note bears interest at the rate of 15% per annum, matures on December 31, 2023, and is secured by a first-priority security interest in all of Viewpoint’s present and after-acquired personal property. The unpaid balance plus all accrued interest and other amounts payable under the Note may be accelerated upon an event of default thereunder. Proceeds of the Loan are to be used by Viewpoint for business expenses in accordance with a budget provided to the Company. The above description is only a summary of the Note, does not purport to be a complete description of the Note, and is qualified in its entirety by reference to the Note, a copy of which is filed as Exhibit 10.1 and incorporated herei

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Source: SEC EDGAR

accession 0001437749-22-028154

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