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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
PNC Provides $27.5MM Debt Financing to Luna Innovations
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Lenders/Participants
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PNC Bank [Lender]
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Structure
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$15MM Revolver; $12.5MM Term Loan
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Amount
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$27.500
Million
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Borrower(s)
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Luna Innovations Incoporated
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Description
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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.
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Industry
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Technology
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Location
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VA
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| Related Tags |
PNC Bank
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ABL Advisor
Deal Tables
2024
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