Neptune extends maturity of secured promissory note for sprout foods with morgan stanley

Maturity of $13 million secured promissory note has been extended to december 31, 2024 laval, qc , april 27, 2023 /prnewswire/ - neptune wellness solutions inc. ("neptune" or the "company") (nasdaq: nept), a consumer-packaged goods company focused on plant-based, sustainable and purpose-driven lifestyle brands, today announced that sprout foods, inc. ("sprout"), the company's organic plant-based baby food and toddler snack company, has extended the maturity of its existing $13 million secured promissory note with morgan stanley expansion capital ("morgan stanley" or "msec"). the note maturity has been extended from february 1, 2024 to december 31, 2024, which will bear interest at the rate of 15.0% per annum through and including december 31, 2023, payable in kind, and 10.0% per annum, payable in kind, and 5.0% per annum payable in cash, from and after january 1, 2024.
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