Treace Medical closes $54M draw on $150M MidCap debt facility; refinances $30M CRG loan

TREACE MEDICAL CONCEPTS, INC.

$150M total facility ($120M term + $30M revolver) with MidCap; $54M drawn at closing.
Proceeds used to refinance existing $30M CRG term loan and replace $10M SVB revolver.
Interest: Adjusted Term SOFR (floor 1%, cap 3%) + 6% (term) or 4% (revolver); 48-month interest-only.
Liquidity now ~$220M including undrawn revolver; no min revenue covenant if liquidity > outstanding term loan.
CEO John Treace says financing provides capital-efficient vehicle to invest in growth.

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