NeuroPace secures $75M credit facility, refinances existing $60M term loan with MidCap

NeuroPace Inc

New $60M term loan and $15M revolver mature June 4, 2030; proceeds repaid $61.9M to CRG.
Interest: SOFR +5.5% (term) and SOFR +3.75% (revolver), both with 2% floor.
Financial covenant: min liquidity $25M; revenue target of $90M in 2026 can ease covenant levels.
Prepayment premiums: 3% (year 1), 2% (year 2), 1% (year 3), 0% thereafter.
Company says new facility reduces cash interest expense and provides non-dilutive growth capital.

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