Luna Innovations Announces New Credit Facility
18 Fevereiro 2010 - 7:46PM
Business Wire
Luna Innovations Incorporated (NASDAQ: LUNA) announced today
that it has entered into a $5 million revolving credit facility
with Silicon Valley Bank (SVB). In May 2008, Luna entered into a
$10 million credit facility with SVB that included 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. Luna paid
off the original $5 million term debt and terminated the prior
facility in July 2009.
“SVB has once again put forth a credit facility that shows its
support of Luna and our business model in the midst of the tough
economy,” said Scott Graeff, Chief Operating Officer and Treasurer.
“SVB is a bank that clearly understands the importance of
technology in the global marketplace. We are very pleased that it
remains committed to our long relationship.”
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.
About Luna Innovations:
Luna Innovations Incorporated (www.lunainnovations.com) is
focused on sensing and instrumentation, and pharmaceutical
nanomedicines. Luna develops and manufactures new-generation
products for the healthcare, telecommunications, energy and defense
markets. The company’s 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.
Forward Looking Statements:
This release may include information that constitutes
“forward-looking statements” made pursuant to the safe harbor
provision of the Private Securities Litigation Reform Act of 1995.
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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