AngioDynamics obtains $7.5 million revolver

By Angela McDaniels

Seattle, Nov. 30 - AngioDynamics Inc. has entered into a new $7.5 million working capital revolving line of credit facility with KeyBank National Association, according to a 8-K report filed with the Securities and Exchange Commission on Wednesday.

The facility matures on Nov. 30, 2006, and replaces AngioDynamics' current line of credit with KeyBank, which expired on Wednesday.

The amount available is up from $3.0 million under the prior line of credit.

Advances made under the facility are secured by all of AngioDynamics' inventory, equipment, accounts receivable, instruments, general intangible assets and related assets and proceeds there from.

Interest is at Libor plus 175 basis points.

As of Wednesday, no amounts were outstanding under the facility or the prior line of credit with KeyBank, according to the SEC filing.

AngioDynamics, headquartered in Queensbury, N.Y., develops image-guided percutaneous therapeutic devices for the minimally invasive treatment of peripheral vascular disease, tumor therapy and other non-vascular diseases.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.