Valeritas (NSDQ:VLRX) said today that cut its debt load by $25 million in a refinancing move and released its third-quarter preliminary results, sending its share price up on Wall Street in early trading.
The terms of refi saw the exchange of $25.0 million in senior debt owned by CR Group and another creditor for new Series B convertible shares, cutting its overall senior secured debt to roughly $17.0 million and saving $8 million in interest payments through March 2022.
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