Green Biologics secures $76 million in debt and equity financing
Gahanna, Ohio and Abingdon, Oxfordshire UK: 21 January 2015 - Green Biologics (GBL) announced today the closing of an internal follow-on equity round of $42 million co-led by Swire Pacific Limited (HKEX: 00019/00087) and Sofinnova Partners. Existing investors Capricorn Venture Partners, Oxford Capital Partners, Morningside Technology Partners and ConvergInce Holdings, LLC also participated in the round.
In addition to the $42 million internal equity round, an additional $34 million in funding was raised predominantly in debt financing from Tennenbaum Capital Partners (TCP), along with equity and debt investment rolled over by existing members of Central MN Ethanol Co-op LLC (CMEC) in Central MN Renewables LLC (CMR), a US affiliate of GBL. This $76 million financing follows GBL's previous equity round of $25 million in December 2013, bringing GBL's total fund raising to just over $100 million since late 2013.
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