Restoration Robotics Secures $20 Million Loan and Security Agreement with Solar Capital Ltd. and Bridge Bank
RESTORATION ROBOTICS (HAIR)
NASDAQ:AMEX Investor Relations:
ir.restorationrobotics.com
Company Research
Source: GlobeNewswire
SAN JOSE, Calif., May 11, 2018 (GLOBE NEWSWIRE) -- Restoration Robotics, Inc. (NASDAQ:HAIR), a leader in robotic hair restoration, announced today that it has reached an agreement with Solar Capital Ltd. and the Life Sciences Group at Bridge Bank to secure a debt facility agreement for $20.0 million. The agreement provides the Company with $20.0 million, of which approximately $10.7 million was used to repay outstanding amounts under the Company’s previous loan facility and pay costs and expenses related to the new debt facility. The remaining $9.3 million provides the Company with additional cash and extends its cash runway into 2019. Additionally, the new debt facility provides for interest-only payments for the first 18 months. Mark Hair, Chief Financial Officer, commented, “We are pleased to announce this agreement, which increases our financial flexibility as we expand our commercial footprint, prepare for the implantation functionality launch and consider further strengtheni
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