NAS takes $1 million loan

AuntMinnie.com staff writers

Dec 11, 2007

Radiation therapy products firm North American Scientific (NAS) has entered into a loan agreement with Three Arch Capital, TAC Associates, Three Arch Partners IV, and Three Arch Associates IV.

Under the agreement, the Chatsworth, CA-based company will receive a loan of $1 million. In turn, the company has issued notes to the lenders with an annual interest rate equal to the prime rate plus 6%. The notes are due and payable on December 20, depending on certain conditions.

The lenders collectively are the largest stockholders of NAS. Two NAS directors, Wilfred Jaeger and Roderick Young, are affiliates of the lenders.

Related Reading

Nasdaq denies NAS listing request, October 17, 2007

NAS receives Nasdaq notice, October 9, 2007

NAS gets loan extension, October 5, 2007

NAS lands brachytherapy supply deal, October 3, 2007

NAS ClearPath used in APBI procedure, September 28, 2007

Copyright © 2007 AuntMinnie.com

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