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ImmunityBio, Inc. IBRX) announced on Tuesday that it has obtained $75 million in non-dilutive financing under its existing Royalty Interest Purchase Agreement (RIPA) with Oberland Capital, raising the total committed capital under the agreement to $375 million.
In parallel with the RIPA funding, Nant Capital, LLC, affiliated with ImmunityBio’s Executive Chairman Patrick Soon-Shiong, M.D., converted $25 million of the outstanding promissory note into 4.6 million shares of common stock.
This move has reduced the company's overall debt while reinforcing investor confidence.
ImmunityBio stock traded over 4% higher on Tuesday’s premarket.
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