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SELECTED TRANSACTION DETAILS
PNC Provides $27.5MM Debt Financing to Luna Innovations
Friday, December 4, 2020

Lenders/Participants PNC Bank [Lender]
Structure $15MM Revolver; $12.5MM Term Loan
Amount $27.500 Million
Borrower(s) Luna Innovations Incoporated
Description The new term loan and a portion of the new revolving credit facility will be used to fund a portion of the purchase price for Luna’s acquisition of OptaSense Holdings, Ltd., also being announced today. The agreement provides the Company with a term loan of $12.5 million, with an interest rate of LIBOR plus a margin ranging from 1.75-2.25% based on a net leverage ratio. The agreement also provides the Company with a revolving line of credit of up to $15.0 million, also with an interest rate of LIBOR plus a margin ranging from 1.75-2.25% based on a net leverage ratio.
Industry Technology
Location VA
Related Tags PNC Bank




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