IRTC - iRhythm Technologies amends existing credit facility

iRhythm Technologies (NASDAQ:IRTC) amended its existing debt facility with Silicon Valley Bank. The deal improves on the pricing and terms of IRTC's existing credit facility. The amended credit facility is non-dilutive and consists of a term loan of up to $75M and a revolving credit facility of up to $25M. At closing, 35M of the new term loan was drawn to pay in full the ~$18.5M outstanding on the term loan under the existing credit facility and to fund working capital. The remaining $40 M of the new term loan will remain available for IRTC to draw through Dec. 31, 2023. The amended credit facility will mature on Mar. 1, 2027.

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iRhythm Technologies amends existing credit facility