Palla Pharma: Enters sale and leaseback of Coolaroo site

Palla Pharma Enters sale and leaseback of Coolaroo site

• Palla Pharma (PAL) enters into a sale and leaseback agreement of its $33.1 million manufacturing site in Melbourne
• Upon receiving funds for the Coolaroo location, the company made a gain of around $21 million
• Palla retains acess to $5 million of undrawn capacity under its existing credit facility
• The 18-month lease arrangement, with an option to extend for six months, allows continued site access
• PallaPharma shares are in the green, up 2.6 per cent, trading at 40 cents at 2:08 pm AEDT