Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
NeuroPace Inc incurred credit facility of $60 million term loan facility and a $15 million commitment amount for an asset-based revolving credit facility with MidCap Funding IV Trust, as agent, and MidCap Financial Trust, as term loan servicer at SOFR plus a margin of 5.50% (subject to SOFR floor of 2.00%) for the Term Loan a maturing June 4, 2030.
- Instrument
- credit facility
- Principal
- $60 million term loan facility and a $15 million commitment amount for an asset-based revolving credit facility
- Counterparty
- MidCap Funding IV Trust, as agent, and MidCap Financial Trust, as term loan servicer
- Rate
- SOFR plus a margin of 5.50% (subject to SOFR floor of 2.00%) for the Term Loan a
- Maturity
- June 4, 2030
- Event
- incurrence
Exact text from the filing
On June 4, 2025 (the “Closing Date”), NeuroPace, Inc. (the “Company”) entered into a credit, security and guaranty agreement (the “Credit Agreement”) by and among the Company, MidCap Funding IV Trust, as agent, MidCap Financial Trust, as term loan servicer and the financial institutions and other entities from time to time party thereto. The Credit Agreement provides for a first lien senior secured credit facility consisting of (i) a $60 million term loan facility, which was funded at closing of the Credit Agreement (the “Term Loan”); and (ii) an asset-based revolving credit facility in an aggregate principal amount not to exceed the lesser of (A) a $15 million commitment amount and (B) the available borrowing base under the Credit Agreement (the “Revolver,” and together with the Term Loan, the “Loans”).
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