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Tampa Bay-Lakeland
Business Observer Wednesday, Dec. 14, 2011 10 years ago

Oragenics credit line at $7.5M

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The Tampa firm expanded its credit line by another $500,000 this week.

TAMPA -- Oragenics Inc. (symbol: ORNI) expanded its credit line with the Koski Family Limited Partnership by another $500,000 this week. KFLP is Oragenics' largest shareholder.

The new amendment expands Oragenics' total credit facility -- an unsecured line of revolving credit -- to $7.5 million. The company also says it has already drawn down on the new addition.

Oragenics is a Tampa-based neutraceutical company working to develop oral care probiotics for humans and their pets. Two of their products, Evora and ProBiora3, are already selling in 20 countries.

Dr. Jeffrey Hillman, the company's founder, retired from his position as chief scientific officer in October. President and CEO David Hirsch resigned in February, but has since been replaced by Jon Bonfiglio.

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