CareDx Signs Deals to Restructure

CareDx, a molecular diagnostics company, said early Monday that it has signed agreements that restructure and extend the maturity of certain obligations related to its acquisition of Allenex AB. The company’s deferred purchase consideration in an aggregate amount of $6.3 million was originally due to the former majority shareholders of Allenex AB on July 1. Under the amended agreements, CareDx will pay $500,000 and convert $1.1 million into shares of CareDx common stock on or about July 3, 2017. About $2.0 million of the obligation will be due by Dec. 31, 2017 and may be paid in stock pending stockholder approval. Payment of the remaining $2.7 million, plus accrued interest, will be deferred until March 31, 2019.

Promissory notes with the former majority shareholders of Allenex AB with an aggregate value of $4.0 million were originally due on July 1, 2017. Under the new agreements, CareDx will pay the outstanding principal amounts, plus accrued interest, on March 31, 2019.