Clarus Therapeutics receives court approval to access cash collateral

By Sarah Lizee

Olympia, Wash., Oct. 4 – Clarus Therapeutics Holdings, Inc. received court approval to access collateral, according U.S. Bankruptcy Court for the District of Delaware.

U.S. Bank NA is trustee and collateral agent.

The cash collateral gives adequate protection to U.S. Bank and current holders of the company’s 12˝% senior secured notes due 2025.

The Northbrook, Ill.-based pharmaceutical company filed bankruptcy under Chapter 11 on Sept. 5. The case number is 22-10845.

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