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Title    Theranos Given Indirect Lifeline From Softbank
Date    Monday December 25 2017, @12:52PM
Author    Fnord666
Topic   
from the just-light-it-on-fire-already dept.
https://soylentnews.org/article.pl?sid=17/12/24/2224257

An Anonymous Coward writes:

Theranos gets $100 million in debt financing to carry it through 2018, with some caveats

Theranos has secured $100 million in debt financing. Yes, someone gave the blood testing company known for handing out questionable test results money.

First reported by Business Insider, the company reportedly told investors it had secured the money from Fortress Investment Group, a New York-based private equity firm that was acquired by Softbank earlier this year.

Of course, this is debt financing, not equity and Theranos will surely need it as it has been bleeding money, laying off more than half its workforce this year and trying to come up with ways to keep it afloat.

Previously: Theranos Introduces New Product to Distract from Scandal
Theranos Lays Off 340, Closes Labs and "Wellness Centers"


Original Submission

Links

  1. "Theranos gets $100 million in debt financing to carry it through 2018, with some caveats" - https://techcrunch.com/2017/12/23/theranos-gets-100-million-in-debt-financing-to-carry-it-through-2018-with-some-caveats/
  2. "Business Insider" - http://www.businessinsider.com/theranos-100-million-secured-debt-financing-future-of-the-company-2017-12
  3. "bleeding money" - https://techcrunch.com/2017/03/23/theranos-is-offering-investors-elizabeth-holmes-shares-if-they-promise-not-to-sue/
  4. "more than half its workforce" - https://techcrunch.com/2017/01/06/theranos-slashes-another-41-percent-of-its-workforce/
  5. "Theranos Introduces New Product to Distract from Scandal" - https://soylentnews.org/article.pl?sid=16/08/03/1218251
  6. "Theranos Lays Off 340, Closes Labs and "Wellness Centers"" - https://soylentnews.org/article.pl?sid=16/10/06/0730206
  7. "Original Submission" - https://soylentnews.org/submit.pl?op=viewsub&subid=23969

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printed from SoylentNews, Theranos Given Indirect Lifeline From Softbank on 2022-09-27 23:38:52