debt
confidence high
sentiment neutral
materiality 0.50
Positron secures $2M line of credit from affiliated investor George Ortiz
POSITRON CORP
- $2,000,000 line of credit from George Ortiz, affiliated investor; draws capped at $500,000 per quarter.
- 12% fixed annual interest; interest-only for first 12 months, principal due by August 13, 2028.
- Issued warrants for 300,000 shares at $1.50 exercise price, expiring December 31, 2030; repriced to $1.00 on default.
- Proceeds for working capital, PET-CT platform commercialization, customer installations, inventory, and growth.