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Treace Secures Up To $150 Million In Debt Financing

Treace Secures Up To $150 Million In Debt Financing

05/02/22, 8:00 AM
Money raised
$150 million
Treace Medical Concepts, Inc. (“Treace” or the “Company”) (Nasdaq: TMCI), a medical technology company driving a fundamental shift in the surgical treatment of hallux valgus (commonly known as bunions), today announced that it has entered into a new five-year $150 million loan arrangement with MidCap Financial, comprising up to $120 million in term loans and a $30 million revolving credit facility. Proceeds from the new term loan refinanced the Company’s existing $30 million term loan from CR Group LP. In addition, the new revolving credit facility will expand the Company’s revolving credit capacity and replace the undrawn existing $10 million revolving credit facility from Silicon Valley Bank.

Company Info

Company
Treace
Additional Info
The Company drew $54 million at the closing and used a portion of the proceeds to refinance its existing $30 million debt facility. “We are pleased to secure this non-dilutive debt financing with favorable terms, providing us up to $150 million to further strengthen our balance sheet and provide financial flexibility as we execute on our commercial strategies and drive growth,” said John T. Treace, CEO, Founder and Board Member of Treace.