TriVascular, Inc. And CRG LP Amend And Restate Term Loan Facility

SANTA ROSA, Calif., Nov. 10, 2014 (GLOBE NEWSWIRE) -- TriVascular Technologies, Inc. (Nasdaq:TRIV) and CRG LP (formerly known as Capital Royalty) and its affiliate funds ("CRG") today announced that they have amended and restated the term loan facility under which TriVascular previously borrowed $40 million in October 2012. In connection with this amendment, the company will increase its borrowings under the facility by $10 million upon closing of the transaction, which is anticipated to be completed by the end of the month, subject to customary closing conditions. Additionally, subject to the achievement of certain revenue milestones, TriVascular will have an option to access up to an additional $15 million on or before December 31, 2015. This amendment extends the maturity date under the facility from September 30, 2017 to June 30, 2020, reduces the interest rate from 14.0 percent to 12.5 percent, and extends the interest only payment period through September 30, 2018. In addition, certain financial and other covenants were modified.

"Together with the proceeds of our initial public offering, this financing further enables us to continue our focus on commercialization of the Ovation PrimeĀ® Stent Graft System and aggressively pursue our product and clinical development initiatives," said Christopher G. Chavez, TriVascular's President and Chief Executive Officer. "We appreciate CRG's ability to provide flexible financing solutions to support our efforts to make EVAR better, safer and available to more patients with abdominal aortic aneurysms. They have been a valued strategic partner, and we look forward to working with them for years to come."

"CRG is excited to expand our longstanding partnership with TriVascular as they continue their commercialization and development of the OvationĀ® technology platform," said Charles Tate, Chairman and Founder of CRG. "Our investment in TriVascular furthers our mission of working with world-class management teams to drive greater innovation in healthcare."

About TriVascular Technologies, Inc. - TriVascular is a medical device company developing and commercializing innovative technologies to significantly advance minimally invasive treatment of abdominal aortic aneurysms. The company manufactures the Ovation Prime Abdominal Stent Graft System, the lowest profile FDA-approved endovascular aortic repair (EVAR) system, which utilizes a novel, polymer-based sealing mechanism. TriVascular is based in Santa Rosa, California.

About CRG - Founded in 2003, CRG (previously known as Capital Royalty L.P.) is a healthcare-focused investment firm with $1.5 billion of assets under management that provides capital to healthcare companies primarily through structured debt and senior secured loans. CRG works across the spectrum of life science products and technologies and targets investment sizes ranging between $20 million and $200 million. The firm partners with commercial-stage healthcare companies to provide flexible financing solutions so they can achieve their growth objectives. CRG is headquartered in Houston, Texas with offices in Boulder, Colorado and New York City. For additional information, please visit crglp.com.

Forward-Looking Statements

In addition to the historical information, this press release contains forward-looking statements with respect to our business, capital resources, future financing needs, including with respect to the closing of the additional funding and the availability of the drawdown of some or all of the additional $15 million under the amended loan agreement with CRG and the use of any such additional funds , our strategic initiatives and growth. . These forward- looking statements are based upon information that is currently available to us or our current expectations, speak only as of the date hereof, and are subject to numerous risks and uncertainties, including our ability to successfully commercialize our products; continued market acceptance of our endovascular aortic repair systems; our ability to manufacture our products to meet demand; the level and availability of third party payor reimbursement for our products; our ability to effectively manage our anticipated growth; our ability to protect our intellectual property rights and proprietary technologies; our ability to operate our business without infringing the intellectual property rights and proprietary technology of third parties; our ability to develop new or complementary technologies; the regulatory requirements applicable to us and our competitors; competition in our industry; additional capital and credit availability; our ability to attract and retain qualified personnel; product liability claims; and general economic and worldwide business conditions. These factors, together with those that are described in greater detail in our Form 10-Q filed with the SEC on May 15, 2014 and our other filings with the SEC, may cause our actual results, performance or achievements to differ materially and adversely from those anticipated or implied by our forward-looking statements. We expressly disclaim any obligation, except as required by law, or undertaking to update or revise any such forward-looking statements.

CONTACT: Company Contact: Michael R. Kramer Chief Financial Officer (707) 543-8709 Media Contact: Vivek K. Jayaraman VP, Global Sales & Marketing (707) 543-8804 vivek.jayaraman@trivascular.com Investor Relations Contact: Westwicke Partners Jamar Ismail (415) 513-1280 Jamar.ismail@westwicke.com CRG Contact: Luke Duster Managing Director (713) 209-7361 lduster@crglp.com
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