Navigation Links
Pharmacyclics Secures $5.0 Million in Debt Financing
Date:1/6/2009

SUNNYVALE, Calif., Jan. 6 /PRNewswire-FirstCall/ -- Pharmacyclics, Inc. (Nasdaq: PCYC) today announced that in preparation of further equity offerings, Robert W. Duggan & Associates ("RWD") made an unsecured loan to Pharmacyclics, Inc. on December 30, 2008, in the amount of $5,000,000. As of December 31, 2008, the company's cash and cash equivalents totaled approximately $12.9 million, including the $5,000,000 in loan proceeds. RWD is controlled by Pharmacyclics' Chairman of the Board and interim Chief Executive Officer, Chief Financial Officer and Secretary, Robert W. Duggan. Mr. Duggan is the beneficial owner of approximately 29% of Pharmacyclics' outstanding common stock.

Under the terms of the loan, Pharmacyclics is to pay RWD the principal sum of $5,000,000 on the earlier of (i) July 1, 2010 or (ii) upon the closing of an equity offering or rights offering by Pharmacyclics. The loan bears interest as follows: (i) 1.36% from December 30, 2008 until March 31, 2009, (ii) the rate of interest in effect for such day as publicly announced from time to time by Citibank N.A. as its "prime rate" from April 1, 2009 until December 31, 2009 and (iii) the prime rate plus 2% from January 1, 2010 until the expiration of the loan. Interest is to be paid annually.

Mr. Duggan commented, "While the global economy is in unchartered waters and forecasts concerning the future are all over the map, it is important to keep in mind that companies like Pharmacyclics continue to discover and develop innovative medicines to treat serious, unmet worldwide medical needs. As a practical matter almost every country, company, organization and individual that make up this economy of ours is presently very engaged in plotting a course of action that creates prosperity and forward progress for their shareholders, for their employees,
'/>"/>

SOURCE Pharmacyclics, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3

Related biology technology :

1. Pharmacyclics Reports First Quarter Fiscal 2009 Financial Results
2. Pharmacyclics Reports Fourth Quarter and Fiscal 2008 Financial Results
3. Pharmacyclics Announces It Received Nasdaq Notice of Compliance
4. Pharmacyclics Announces It Received Nasdaq Notification
5. Pharmacyclics Announces Multiple Presentations at the American Association for Cancer Research Annual Meeting
6. EcoSphere(R) Biolatex(TM) Secures Funding from Granholm and Invest Michigan!
7. Interface Biologics secures $5mm financing and appoints Thomas P. Reeves President and Chief Executive Officer
8. Queens secures £25M for UKs cyber safety
9. Queens secures £25m for UKs cyber-safety
10. Northwest Secures US$1.65 Million Debt Financing
11. NeoStem Secures $250,000 in an Above Market Financing and Expands Its Relationship With New England Cryogenic Center, Inc.
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2015)... , June 26, 2015  SeraCare Life ... diagnostics manufacturers, today announced that it has signed ... the National Cancer Institute (NCI), part of the ... and positive controls for cancer assays.  The CRADA ... and accurately quantitate control DNA biosynthetics spiked into ...
(Date:6/26/2015)... - iCo Therapeutics ("iCo" or "the Company") (TSX-V: ICO) ... in the management information circular dated June 1, 2015 were ... of Shareholders, held earlier today, June 26 2015. ... nominees proposed by management were elected as Directors ... next Annual Meeting of Shareholders or until their ...
(Date:6/26/2015)... 2015  A San Francisco company, Pembient, recently announced ... rhino horn: beer in China ... In response to the emerging industry, two leading rhino ... of synthetic rhino horn.  The ... Rhino International (SRI) released a joint statement ...
(Date:6/26/2015)... ... June 26, 2015 , ... Claremont ... SimplePrep™ technologies have been integrated into a sample prep module intended to enable ... a part of the NASA’s WetLab-2 Project. , On June 28, 2015, SpaceX ...
Breaking Biology Technology:SeraCare Life Sciences Signs CRADA with NCI to Advance Cancer Diagnostics 2SeraCare Life Sciences Signs CRADA with NCI to Advance Cancer Diagnostics 3iCo Therapeutics Announces Voting & Election Results from Annual Meeting of Shareholders 2iCo Therapeutics Announces Voting & Election Results from Annual Meeting of Shareholders 3Rhino Experts Oppose Synthetic Rhino Horn as Solution to Poaching Crisis 2Claremont BioSolutions’ SimplePrep™ Products Deployed in NASA Wetlab-2 Project Slated for June 28th Flight to International Space Station aboard SpaceX CRS-7 2Claremont BioSolutions’ SimplePrep™ Products Deployed in NASA Wetlab-2 Project Slated for June 28th Flight to International Space Station aboard SpaceX CRS-7 3
... 11 CV Therapeutics,Inc. (Nasdaq: CVTX ) today ... 2007 after the market closes on Tuesday, November 6,2007. ... p.m. EST,1:30 p.m. PST, on the company,s website. ... the Company,s website at, http://www.cvt.com and go to ...
... - The Board of,Directors of Immunotec Inc. is ... A. Northrop as President and Chief Executive Officer, ... Board of Directors of Immunotec Inc., Mr. Northrop ... success in rapid growth,situations, Mr. Northrop has impressive ...
... an Eden Prairie-,based molecular diagnostics service and technology company, ... its CFO, and Elizabeth A. Skinner,as VP - Legal, ... of Edwin Watts Golf, and has previously,served as VP ... Allied Signal,Aerospace, and corporate controller of NCR Corporation. He ...
Cached Biology Technology:CV Therapeutics To Announce 2007 Third Quarter Financial Results on Tuesday, November 6, 2007 2Immunotec Inc. announces appointment of President & CEO James A. Northrop 2Access Genetics Announces New Executive Appointments 2
(Date:6/16/2015)... , June 16, 2015 Fingerprint ... touch fingerprint sensors in the company,s portfolio from one of ... are planned to mainly take place during the third quarter ... Asia . Jörgen Lantto, CEO ... of    the   growing interest from smartphone OEMs in ...
(Date:6/15/2015)... YORK , June 15, 2015 ... today from Telstra reveals the majority of US consumers using ... them via biometrics, such as fingerprint and voiceprint, instead of ... According to Telstra,s " Mobile Identity   - ... " report, with smartphones now the primary channel used ...
(Date:6/11/2015)... 11, 2015 Daon, a global leader ... its IdentityX Mobile Authentication Platform v4.0 has been ... is an industry consortium launched in 2013 to ... stronger authentication.  In order to receive certification, a ... series of tests that measure compliance and ensure ...
Breaking Biology News(10 mins):FPC Receives Order for Touch Fingerprint Sensors of 375 MSEK 2One in Four US Consumers Would Share Their DNA With Their Bank to Secure Financial and Personal Information, Telstra Report Finds 2One in Four US Consumers Would Share Their DNA With Their Bank to Secure Financial and Personal Information, Telstra Report Finds 3One in Four US Consumers Would Share Their DNA With Their Bank to Secure Financial and Personal Information, Telstra Report Finds 4Daon's IdentityX Mobile Authentication Platform One of First Products to be Certified by FIDO Alliance 2
... Group, Inc. (OTC Bulletin Board: MDXG ), ... biomaterial-based products, announced today that its results for the ... and Company guidance will be released after the closing ... timing of the earnings announcement allows MiMedx time to ...
... the oocysts from the Cryptosporidium genus and cysts ... greatest public health problems in water supply, because these parasites ... Hermida, a scientist at the Galician Institute for Food Quality ... A team led by this researcher took 232 water samples ...
... at IRB Barcelona have completed the 3D structural sequence ... substances between the extra and intracellular milieu. This finding ... occur in these relevant proteins during basic cell processes, ... cell volume, and nerve transmission. The exchange ...
Cached Biology News:MiMedx Group, Inc. Announces Release Date for 2010 Fourth Quarter and Full Year Results 2Parasitic protozoons survive waste water and drinking water treatment plants in Galicia 2Researchers achieve a full film frame of a family of proteins essential for cell function 2
Ethylene glycol-bis(2-aminoethyl ether)-N,N,N',N'-tetraacetic acid, Molecular Biology Grade...
Ethylene glycol-bis(2-aminoethyl ether)-N,N,N',N'-tetraacetic acid, Molecular Biology Grade...
... for relax positively and negatively supercoiled DNA in ... , Studying the effects of supercoiling on transcription ... vitro , Determining the degree of supercoiling ... plasmids that differ in length by only one ...
Kit Components: Anti-PARP LumiGLO Chemiluminescent Substrate Immunoblot Blocking Reagent Pyronin Y Reagent Goat Anti-Rabbit IgG, HRP conjugate Double-It Reagent Film Exposure Folders Autor...
Biology Products: