NorthStar closes on $100M in financing

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BELOIT - NorthStar Medical Technologies LLC has announced the closing on $100 million in secured financing with funds managed by Oberland Capital Management LLC.

NorthStar received $75 million at closing with an option to draw an additional $25 million prior to Dec. 31, 2020. NorthStar primarily will use proceeds from the financing to increase domestic production capacity for the medical radioisotope molybdenum-99 (Mo-99), complete programs to improve the efficiency of the production of Mo-99, implement additional enhancements for the RadioGenix System (technetium Tc 99m generator) and continue to advance its R&D activities.

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