Financing

CHAD Therapeutics Completes $3.5 Million Financing Package

Published in Drug Week, August 17th, 2007

CHAD Therapeutics, Inc. (AMEX:CTU) announced the completion of a $3,500,000 financing package with a private investor that provides funding for the development and commercial roll-out of the Company's initial products for the sleep disorder market and enhances the Company's working capital.

The financing package is comprised of a $750,000 convertible term note and a $2,750,000 revolving credit line, all secured by the Company's assets. The term note is payable in equal installments over 33 months and bears interest at prime plus 2%, and the revolving credit line bears interest at prime plus 1.5%. A portion of the financing was used to pay all outstanding obligations on...

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Source: Drug Week (2007-08-17)

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