It has been a fairly good month for the CytoDyn Inc (OTCMKTS:CYDY) stock so far this month. Although the stock has recorded losses of 14% over the past week, investors need to keep in mind that the CytoDyn stock is still up by as much as 37% over the course of the past month.
Last week the company made a significant announcement that investors ought to take a look at. The company announced that it successfully completed a convertible debt offering of a non-dilutive nature with an institutional investor.
It is a significant development for CytoDyn considering the fact that the transaction is going to inject the company with fresh capital of $25 million immediately. The note is going to carry an interest rate of 10% each year and is going to mature in two years. It is secured against the assets owned by CytoDyn except for its intellectual property. It remains to be seen if the stock can recover from its slump over the past week.
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Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.