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BioAmber closes $25-million debt financing

10:25 AM MDT | July 18, 2013 | Rebecca Coons

BioAmber (Minneapolis) announced today that it has closed a $25-million, three-year term loan with Hercules Capital. The financing helps ensure that the company has the capital needed to complete construction and start-up of its 30,000-m.t./year biobased succinic acid facility at Sarnia, ON. The debt facility is in addition to the $71.9 million of net proceeds that BioAmber received in connection with its initial public offering in May. The company had originally filed for an IPO worth up to $150...

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