Luna Innovations Announces New Credit Facility
22 Maio 2008 - 8:30AM
Business Wire
Luna Innovations Incorporated (NASDAQ:LUNA) announced today that it
has entered into a $10 million credit facility with Silicon Valley
Bank. Included in this facility is a four-year term debt of $5
million and a remaining facility available under a four-year
revolving line of credit of up to $10 million. �The credit facility
will support our working capital needs as we execute on our
business model of developing and then commercializing our most
promising technology into viable products and businesses,� said
Kent Murphy, Chairman and Chief Executive Officer. The facility is
secured by certain company assets and is subject to customary
covenants, including covenants requiring the company to meet EBITDA
milestones and liquidity ratios. In connection with this
transaction, the company also extended the maturity dates of its
existing convertible notes totaling $5 million to December 31,
2012. About Luna Innovations: Luna Innovations Incorporated
(www.lunainnovations.com) develops and manufactures new-generation
products for the healthcare, telecommunications, energy and defense
markets. Our products are used to measure, monitor, protect and
improve critical processes in the markets we serve. Through its
disciplined commercialization business model, Luna has become a
recognized leader in transitioning science to solutions. Luna is
headquartered in Roanoke, Virginia. Safe Harbor Statement: This
release includes information that constitutes �forward-looking
statements� made pursuant to the safe harbor provision of the
Private Securities Litigation Reform Act of 1995, including
statements regarding, but not limited to: the facility supporting
Luna�s working capital needs, Luna�s developing and commercializing
technology into viable products, businesses and business
opportunities. Statements that describe the company�s business
strategy, goals, prospects, opportunities, outlook, plans or
intentions are also forward looking statements. Actual results may
differ materially from the expectations expressed in such
forward-looking statements as a result of various factors,
including risks and uncertainties set forth in the company�s
periodic reports and other filings with the Securities and Exchange
Commission. Such filings are available at the SEC�s website at
http://www.sec.gov, and at the company�s website at
http://www.lunainnovations.com. The statements made in this release
are based on information available to the company as of the date of
this release and Luna Innovations undertakes no obligation to
update any of the forward-looking statements after the date of this
release.
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