Restoration Robotics Secures $20 Million Loan and Security Agreement with Solar Capital Ltd. and Bridge Bank
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.READ MORE AT GLOBE NEWSWIRE