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NEWS
ProPhase Labs Secures Global Private Equity Backing, Nears Major Lozenge Deal, Adds Seasoned Industry Expert, and Plans Significant Cost-Cutting Measures
Wednesday, 11th December at 8:00 am
The Company will review on Thursday, December 12th, at 12:00 p.m. EST.
GARDEN CITY, NY, Dec. 11, 2024 (GLOBE NEWSWIRE) -- ProPhase Labs, Inc. (NASDAQ: PRPH) ("ProPhase" or the "Company"), a next-generation biotech, genomics, and diagnostics company, today provided updates on several key initiatives.
Securing Low-Interest Rate Financing from a Global Private Equity Fund
ProPhase has secured an agreement with a billion-dollar global private equity fund, providing flexible, low-interest rate debt financing as needed. Based on the current operating plans and financial forecasts, the Company believes that the aforementioned debt financing arrangement will eliminate the necessity for future equity financing in the near term and provides the Company with the strategic freedom to focus on and grow its core businesses until a meaningful liquidity event occurs and/or until the Company achieves profitability. Additionally, ProPhase will explore opportunities with the fund to distribute its ProPhase TK supplements—Legendz XL, Legendz Triple Edge, and the forthcoming Equivir—throughout Asia. Equivir is a clinically tested dietary supplement that serves as an immune booster, both prophylactically and therapeutically.
Wednesday, 11th December at 8:00 am
The Company will review on Thursday, December 12th, at 12:00 p.m. EST.
GARDEN CITY, NY, Dec. 11, 2024 (GLOBE NEWSWIRE) -- ProPhase Labs, Inc. (NASDAQ: PRPH) ("ProPhase" or the "Company"), a next-generation biotech, genomics, and diagnostics company, today provided updates on several key initiatives.
Securing Low-Interest Rate Financing from a Global Private Equity Fund
ProPhase has secured an agreement with a billion-dollar global private equity fund, providing flexible, low-interest rate debt financing as needed. Based on the current operating plans and financial forecasts, the Company believes that the aforementioned debt financing arrangement will eliminate the necessity for future equity financing in the near term and provides the Company with the strategic freedom to focus on and grow its core businesses until a meaningful liquidity event occurs and/or until the Company achieves profitability. Additionally, ProPhase will explore opportunities with the fund to distribute its ProPhase TK supplements—Legendz XL, Legendz Triple Edge, and the forthcoming Equivir—throughout Asia. Equivir is a clinically tested dietary supplement that serves as an immune booster, both prophylactically and therapeutically.
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