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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
SVB, MidCap Expand Credit Facility for Vericel to $25MM
Monday, December 11, 2017
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Lenders/Participants
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Silicon Valley Bank [Lender]
MidCap Financial [Lender]
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Structure
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$10MM Revolver; $15MM Term Loan
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Amount
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$25.000
Million
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Borrower(s)
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Vericel Corporation
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Description
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Company announced that it entered into an expanded $15 million term loan and retained an existing $10 million revolving line of credit with Silicon Valley Bank and MidCap Financial Services (MidCap Financial), providing Vericel access to up to a total of $25 million of capital. As of November 30, 2017, Vericel had an outstanding balance of $7 million under an existing term loan with Silicon Valley Bank and MidCap Financial which will be replaced with the expanded facility, providing approximately $8 million of incremental capital (excluding refinancing fees) to the company and bringing the total term loan balance to $15 million.
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Industry
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Biologics
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Location
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MA
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| Related Tags |
MidCap Financial, Silicon Valley Bank
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ABL Advisor
Deal Tables
2024
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