EVLV - Evolv Technology announces $75M in non-dilutive debt financing

• Evolv Technology ( NASDAQ: EVLV ) announces $75M in non-dilutive debt financing facility with Silicon Valley Bank.
• The facility is expected to support company’s rapidly growing subscription offering.
• “We believe the non-dilutive capital from this debt facility will further strengthen our already strong balance sheet and support our rapidly growing subscription business. Evolv Express® is the industry’s leading AI-based weapons detection solution and is comprised of highly advanced hardware and software, which we deliver to our customers through long term subscription contracts. We believe this program with Silicon Valley Bank will enable us to offset any cash we deploy to fund these hardware purchases from our contract manufacturer, enabling us to operate a capital free SaaS model while more effectively supporting our long-term growth plans,” said Mark Donohue, CFO of Evolv Technology.

For further details see: