PRCT - Procept Biorobotics announces $52M debt refinancing

• Procept BioRobotics ( NASDAQ: PRCT ) has entered into a new five-year $52M loan arrangement with CIBC Innovation Banking.

• The proceeds were used to retire a $50M debt facility with the company’s existing lender.

• The new term loan includes a final maturity date of five years from the closing date and has an interest-only period of 36 months, which may be extended to 48 months.

• “In order to further strengthen our balance sheet, we have successfully extinguished our $50 million term loan and entered into a new facility with favorable terms. This agreement provides financial flexibility, by both delaying principal payments and reducing our annual interest expense by approximately $2.8 million, providing the Company additional capital to execute our long-term growth plan.” said Kevin Waters, Chief Financial Officer.

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