Candel Therapeutics signs $130M term loan facility with Trinity Capital

* Candel Therapeutics (NASDAQ:CADL [https://seekingalpha.com/symbol/CADL]) announced [https://seekingalpha.com/pr/20264571-candel-therapeutics-enters-into-130-million-term-loan-facility-with-trinity-capital-inc]on Tuesday that it has entered into a five-year, $130M term loan facility with Trinity Capital.
* The facility included four tranches, starting with the first $50M available to draw at closing, followed by the second and third $50M, which were drawn subject to the achievement of certain regulatory, clinical, and operational milestones mentioned in the agreement, and the fourth tranche of $30 million is available at the lender’s discretion.
* The Company plans to use the first tranche, will refinance the prior loan agreement, and provide working capital. Subsequent tranches will be used to fund its general corporate purposes, completion of critical launch readiness, medical affairs and pre-commercialization activities, and potential commercial launch.

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