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XG Sciences secures financing from The Dow Chemical Company

Thursday, January 5, 2017 5:22
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(Before It's News)

XG Sciences logoXG Sciences, a supplier of graphene nanoplatelets and value-added products containing graphene nanoplatelets, recently announced that it has closed an agreement with The Dow Chemical Company for up to a $10 million senior credit facility, which may be drawn down in tranches by XGS at its discretion through December 2019.

The company received $2 million under this facility at close and may draw another $3 million at its discretion at any time prior to the first anniversary of the agreement. After the first anniversary of the closing, the company may access the remaining $5 million, provided it has raised at least $10 million of additional equity capital. XG Sciences and Dow agreed to hold commercial discussions including the potential out-license of certain of Dow’s manufacturing IP related to graphene nanoplatelets to XGS.



Source: http://www.graphene-info.com/xg-sciences-secures-financing-dow-chemical-company

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