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Calypte extends credit facility, cuts rate
New York, Dec. 6 - Calypte Biomedical Corp. said it amended its credit facility with its largest stockholder, Marr Technologies, BV, to extend the maturity and lower the interest rate.
The facility now expires on April 3, 2006 instead of Dec. 31, 2005. In addition, the interest rate for promissory notes is now 7% instead of 9%.
Based in Pleasanton, Calif., Calypte develops and commercializes diagnostic testing products for sexually transmitted diseases.
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