Zealand Pharma A/S announced that it has entered into financial agreement with new investor Oberland Capital Management LLC to receive $200 million in funding on December 14, 2021. The company will receive an upfront payment of $100 million in exchange for a 7 year, interest only secured note, $50 million in exchange for additional note with terms and conditions consistent with the note, available at company's option any time prior December 31, 2023, up to $50 million in exchange for an additional note on terms to be mutually agreed upon, available at the company's option any time prior to June 30, 2023. The secured note carries an interest rate of 6% plus 3-month LIBOR or 0.25%, whichever is greater. On the same date, the company has received upfront payment of $100 million in its first tranche closing.