- Bod Science (BOD) establishes a loan facility with Radium Capital
- Radium has agreed to loan an amount equal to 80 per cent of Bod Science’s R&D tax incentive based on eligible spend for a specified period
- For the first half of the 2023 financial year, Radium will offer Bod $437,598, with an annual interest rate of 16 per cent, repayable by December 31, 2023
- The loan may be extended by 30 days on two separate occasions at the discretion of the lender if there are delays in the receipt of the rebate from the ATO
- Bod Science last traded at 6 cents at 12:45 pm AEDT
Medicinal cannabis developer Bod Science (BOD) has established a loan facility with Radium Capital.
Radium Capital is a research and development (R&D) finance provider offering strategic capital by way of early access to refunds secured against the ATO rebate, reducing the need for dilutionary equity.
Radium has agreed to loan an amount equal to 80 per cent of Bod Science’s R&D tax incentive based on eligible spend for a specified period.
For the first half of the 2023 financial year, Radium will loan Bod $437,598, an amount based on Bod’s domestic research and development spending.
The loan is secured by a featherweight security agreement, with an annual interest rate of 16 per cent, repayable by December 31, 2023.
The loan may be extended by 30 days on two separate occasions at the discretion of the lender if there are delays in the receipt of the rebate from the ATO.
Meanwhile, Bod will continue progressing its research into cannabis-focused drug development.
Bod Science last traded at 6 cents at 12:45 pm AEDT.