Investors also get warrants for 660,793 shares, exercisable at $2.27
By Devika Patel
Knoxville, Tenn., Dec. 9 - Hansen Medical, Inc. negotiated a $30 million term loan with Oxford Finance LLC and Silicon Valley Bank on Dec. 8, according to an 8-K filed Friday with the Securities and Exchange Commission. Oxford Finance was the collateral agent and is investing $20 million. Silicon Valley will invest $10 million.
The loan accrues interest at 9.45%.
As part of the loan, the investors received seven-year warrants for 660,793 common shares, exercisable at $2.27. The strike price is a 6.97% discount to the Dec. 7 closing share price of $2.44.
Settlement is expected on Friday.
The Mountain View, Calif.-based company develops and manufactures robotics designed to position, manipulate and control catheter technologies.
| Issuer: | Hansen Medical, Inc.
|
| Issue: | Term loan
|
| Amount: | $30 million
|
| Coupon: | 9.45%
|
| Warrants: | For 660,793 shares
|
| Warrant expiration: | Seven years
|
| Warrant strike price: | $2.27
|
| Agent: | Oxford Finance LLC
|
| Investor: | Oxford Finance LLC (for $20 million) and Silicon Valley Bank (for $10 million)
|
| Pricing date: | Dec. 8
|
| Settlement date: | Dec. 9
|
| Stock symbol: | Nasdaq: HNSN
|
| Stock price: | $2.27 at close Dec. 8
|
| Market capitalization: | $130.71 million
|
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