Treace Medical entered into a new five-year $175 million senior secured loan arrangement with credit funds managed by SLR Capital Partners, comprising $60 million in term loans funded at close, $65 million of additional term loan availability, and a $50 million revolving credit facility. Proceeds from the new term loan were used to prepay the company’s $50 million term loan and $4 million drawn under its previously-existing revolving credit facility.
With the completion of this refinancing, the company now has total liquidity, consisting of cash, cash equivalents, marketable securities, and unused availability under its new credit facility (subject to meeting certain conditions), of approximately $165 million.
Armentum Partners served as financial advisor to Treace on the transaction.
John T. Treace, CEO, Founder and Chairman of Treace, said, “This financing gives us a capital-efficient vehicle, helping our business stay well-capitalized as we work to expand our market and strengthen our competitive position. By securing this non-dilutive $175 million debt facility, we are further reinforcing our balance sheet and enhancing our financial flexibility to advance our commercial strategies and our goal of becoming the standard of care in bunion surgery.”
Treace Medical entered into a new five-year $175 million senior secured loan arrangement with credit funds managed by SLR Capital Partners, comprising $60 million in term loans funded at close, $65 million of additional term loan availability, and a $50 million revolving credit facility. Proceeds from the new term loan were used to prepay the...
Treace Medical entered into a new five-year $175 million senior secured loan arrangement with credit funds managed by SLR Capital Partners, comprising $60 million in term loans funded at close, $65 million of additional term loan availability, and a $50 million revolving credit facility. Proceeds from the new term loan were used to prepay the company’s $50 million term loan and $4 million drawn under its previously-existing revolving credit facility.
With the completion of this refinancing, the company now has total liquidity, consisting of cash, cash equivalents, marketable securities, and unused availability under its new credit facility (subject to meeting certain conditions), of approximately $165 million.
Armentum Partners served as financial advisor to Treace on the transaction.
John T. Treace, CEO, Founder and Chairman of Treace, said, “This financing gives us a capital-efficient vehicle, helping our business stay well-capitalized as we work to expand our market and strengthen our competitive position. By securing this non-dilutive $175 million debt facility, we are further reinforcing our balance sheet and enhancing our financial flexibility to advance our commercial strategies and our goal of becoming the standard of care in bunion surgery.”
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