Establishment Labs gets $25 million additional borrowing capacity

By Angela McDaniels

Tacoma, Wash., June 18 – Establishment Labs Holdings Inc. entered into an amendment to its credit agreement with affiliates of Madryn Asset Management, LP, according to a company news release.

The amended terms of the credit agreement provide the company with up to $25 million of new borrowing capacity from Madryn to increase the company’s financial flexibility.

The amended credit agreement extends the maturity date on all loans to Sept. 30, 2025, reduces the interest rate to Libor plus 800 basis points from Libor plus 1,100 bps, and modifies some other terms and provisions.

The amendment became effective Monday.

The credit agreement was originally entered into on Aug. 24, 2017.

Establishment Labs is a medical technology company focused on women’s health, initially in the breast aesthetics and reconstruction market, and is based in New York.

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