IRRAS Secures Short-term Financing Agreement of MSEK 40
Stockholm, Sweden (April 20, 2023) – IRRAS, a commercial-stage medical technology company with a comprehensive portfolio of innovative products for neurocritical care, today announced a short-term financing agreement with Bacara Holdings, its second largest shareholder, which is led by Marios Fotiadis, the company’s Chairman of the Board of Directors. This bridge loan agreement provides IRRAS up to MSEK 40 in funding to cover its working capital needs until the completion of the company’s ongoing financing process. The short-term loan is a secured credit facility with an interest rate of