RE:RE:RE:New Press Release - Theratechnologies Announces Agreement in Principle with Marathon to Amend Some of the Terms and Conditions of its Loan Facility It is a lot to give up, and demonstrates how tough the initial terms were, but it does show Marathon's willingness to work with TH and this seems like a more complete restructuring of the agreement so that there is a sustainable way forward. Lenders hold all the cards in these situations.
5% dilution at $55mm market cap stings, but reducing the liquidity requirements are an important and necessary change. Markets were contemplating a much more painful raise and/or worse outcome just a few weeks ago. I would like to hear more about what these adjusted EBITDA targets will be. In some way it's nice to have some discipline forced on management, but it is another leverage point for Marathon.
Submitting F8 is very good to see. Now let's see how they performed last quarter, how close to cash flow positive they are, and what their projections are. And perhaps at least hear that they have recruited a few patients for 1902.