Date: 2016-10-04
Type of information: Loan
Company: Oxford Immunotec (UK)
Investors: Midcap Financial (USA - MD)
Amount: $40 million (€35.7 million)
Funding type: credit line and loan
Planned used:
Others: * On October 4, 2016, Oxford Immunotec Global, a global, high-growth diagnostics company focused on developing and commercializing proprietary tests for the management of under-served immune-regulated conditions, announced that it has entered into an agreement with MidCap Financial that provides the Company with $40 million in debt financing, comprised of both a term loan and a revolving line of credit.
The agreement provides the Company with a term loan of $30 million which matures five years from closing. The term loan accrues interest at a rate of LIBOR plus 7.60% with interest-only payments for the first 24 months, with the ability to extend to 48 months subject to certain conditions, before the loan begins to amortize. The agreement also provides the Company with a revolving line of credit of up to $10 million upon closing. The revolving line of credit matures five years from closing and accrues interest at LIBOR plus 4.45%. Based on certain conditions, both the term loan and revolver may be each increased by an additional $10 million to support the Company's future growth.
Therapeutic area: Diagnostic
