ST. LOUIS, Dec. 20, 2010 /PRNewswire/ — Stereotaxis, Inc.
(Nasdaq:
STXS) announced today that the Company has closed on its
previously announced $40 million credit facility, which includes a
$30 million revolving facility that matures on March 31, 2012 and a
$10 million term loan that matures on December 31, 2013. The
new facility was led by Silicon Valley Bank, and replaces the
Company’s previous facility that was scheduled to mature in March
2011.
“We are pleased that this new facility allows us to balance our
capital structure in a manner that minimizes our cost of capital
and equity dilution. We believe the increased liquidity and
financial flexibility provided by this facility should enhance our
ability to drive to commercial success with our technology platform
that addresses the large and growing heart arrhythmias market,”
said Mike Kaminski, Chief Executive Officer of Stereotaxis.
About Stereotaxis
Stereotaxis designs, manufactures and markets an advanced
cardiology instrument control system for use in a hospital’s
interventional surgical suite to enhance the treatment of coronary
artery disease and arrhythmias. The Niobe® Remote Magnetic
Navigation System is designed to enable physicians to complete more
complex interventional procedures by providing image guided
delivery of catheters and guidewires through the blood vessels and
chambers of the heart to treatment sites. This is achieved using
computer-controlled, externally applied magnetic fields that govern
the motion of the working tip of the catheter or guidewire,
resulting in improved navigation, shorter procedure time and
reduced x-ray exposure.
Stereotaxis’ Odyssey™ portfolio of products provides an
innovative enterprise solution for integrating, recording and
networking interventional lab information within hospitals and
around the world. Odyssey™ Vis
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