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Comerica Bank Provides $7.5MM Credit Facility to Interpace Biosciences
Monday, October 18, 2021

Lenders/Participants Comerica Bank [Lender]
Structure Revolving Credit Facility
Amount $7.500 Million
Borrower(s) Interpace Biosciences
Description The facility matures on September 30, 2023 and allows for advances based on 80% of eligible accounts receivable plus an applicable non-formula amount consisting of $2,000,000 of additional availability at close, stepping down $250,000 per quarter beginning with the quarter ending June 30, 2022. The interest rate is equal to prime plus .50%, prime being the greater of the bank’s stated prime rate or the sum of the daily adjusting LIBOR rate, plus 2.5% per annum. The Bank will have a first priority security interest in substantially all of Interpace’s and its subsidiaries’ assets and will be senior to the existing $7.5 Million bridge loans made by the Company’s private equity investors.
Industry Biotechnology

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