Navigation Links
Bacterin International Holdings Secures $5,000,000 Credit Facility with Bridge Bank
Date:1/20/2011

BELGRADE, Mont., Jan. 20, 2011 /PRNewswire/ -- Bacterin International Holdings, Inc. ("Bacterin") (OTC Bulletin Board: BIHI), today announced that it has closed on the Bridge Bank, N.A. revolving accounts receivable line of credit facility for up to $5 million that was announced on November 22, 2010.  The financing, which is secured by the Company's accounts receivable and other assets, has a 2 year term and carries an interest rate of the Bridge Bank prime rate plus 2.25%.  The draw-down of funds is based upon borrowing up to 80 percent of eligible accounts receivable subject to typical borrowing base and asset coverage restrictions and other performance milestones.

Founded in 2001, Bridge Bank (Nasdaq: BBNK) is a full service professional business bank dedicated to meeting the financial needs of small, middle-market, and emerging technology businesses in Silicon Valley, California, and the nation.  

The credit facility with Bridge Bank follows the announcement of an asset backed lending facility of up to $8 million with Western Technology Investment ("WTI") that was completed on November 22, 2010.  WTI provided Bacterin an immediate draw-down of $2.5 million in November, 2010.  The WTI facility offers an additional $2.5 million through April 30, 2011, upon the achievement of certain performance based milestones through March 31, 2011. The agreement also contains provisions for the potential draw-down of up to $3 million based upon Bacterin raising additional levels of equity capital.

John Gandolfo, CFO of Bacterin commented, "The completion of this credit facility with Bridge Bank provides Bacterin with the additional capital to execute on our current growth plans.  We expect to utilize the proceeds of the facility for general working capital
'/>"/>

SOURCE Bacterin International Holdings, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Page: 1 2 3

Related biology technology :

1. Bacterin International Reconstitutes Its Board of Directors and Appoints Experienced Legal and Financial Professionals
2. Bacterin International Appoints Three New Members to Its Board of Directors
3. 4th International Conference on Electrophoretic Deposition
4. Verenium Announces Favorable Outcome of Capital Ventures International Lawsuit
5. Cellular Dynamics International to Present at 29th Annual JPMorgan Healthcare Conference
6. Halt Medical Presents Strong Results of International Fibroid Studies at National Institutes of Health Global Congress
7. Web of international collaboration boosts worldwide nanotechnology research
8. ViroPharma Incorporated and Idis Partner to Facilitate International Access to Certain ViroPharma Therapeutics Through Named Patient Program
9. Egon Zehnder International Names Todd Hutchings to Lead Life Sciences Practice Group
10. Nu Skin Scientists Present ageLOC Research at International Conference on Mitochondria
11. Medizone International Secures $10,000,000 Funding Commitment
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/22/2014)... August 22, 2014 Nerium International, ... is in the spotlight again. Nerium will showcase ... its NeriumFirmTM Body Contouring Cream to Hollywood’s elite ... Creations during the 66th Primetime Emmy® Awards. , ... extract, third-party clinical trials show that NeriumAD night ...
(Date:8/21/2014)... LYNBROOK, N.Y. , Aug. 21, 2014 /PRNewswire/ ... a biopharmaceutical company developing first in class collagenase-based ... histolyticum or CCH) in the U.S. and XIAPEX ... statistically significant results from a randomized, double-blind Phase ... of cellulite, or edematous fibrosclerotic panniculopathy. The results ...
(Date:8/21/2014)... An international research team including DESY scientists has observed ... The team reports in the journal Science ... lattices inside the nanodroplets. It is the first time ... in larger samples of what is known as superfluid ... exceeded our best expectations," says Andrey Vilesov of the ...
(Date:8/21/2014)... His Majesty Willem-Alexander, King of the ... of His Majesty Willem-Alexander, King of the Netherlands, has ... of POET-DSM Advanced Biofuels’ Project LIBERTY cellulosic ethanol plant ... King will take part in the Grand Opening Ceremony ... a.m.-12:20 p.m. and tour the plant. POET-DSM is a ...
Breaking Biology Technology:Nerium International Joins Television’s Biggest Stars at Backstage Creations Giving Suite at the 66th Primetime Emmy Awards 2Nerium International Joins Television’s Biggest Stars at Backstage Creations Giving Suite at the 66th Primetime Emmy Awards 3BioSpecifics Technologies Corp. Announces Positive Data from Phase 2a Study of CCH for Treatment of Cellulite 2BioSpecifics Technologies Corp. Announces Positive Data from Phase 2a Study of CCH for Treatment of Cellulite 3BioSpecifics Technologies Corp. Announces Positive Data from Phase 2a Study of CCH for Treatment of Cellulite 4BioSpecifics Technologies Corp. Announces Positive Data from Phase 2a Study of CCH for Treatment of Cellulite 5Scientists observe quantum vortices in cold helium droplets 2His Majesty Willem-Alexander, King of the Netherlands, to Attend Project LIBERTY opening 2His Majesty Willem-Alexander, King of the Netherlands, to Attend Project LIBERTY opening 3
... Emerging Growth Equities,Ltd. initiates coverage of CombiMatrix Corporation ... an $18.00 price target. CombiMatrix is a life ... genetic,diagnostics that leverage its core CustomArray technology., ... and investment,banking firm that provides high quality distribution, ...
... Product Line Extension Builds on Existing Brand Strength and Pediatric ... ... Focus, PLYMOUTH MEETING, Pa., Aug. 18 /Xinhua-PRNewswire-FirstCall/ ... that the Sunstone (Tangshan) Pharmaceutical Co., Ltd.,("Sunstone"), its wholly-owned subsidiary, ...
... of Trade Alerts on stocks making news today., Investors ... by visiting:, http://www.BeaconEquity.com/m , Today,s Trade Alerts include: Elan ... ), Amgen Inc. (Nasdaq: AMGN ), Genentech Inc. (NYSE: ... Gilead Sciences Inc. (Nasdaq: GILD )., Join the ...
Cached Biology Technology:Emerging Growth Equities, Ltd. Initiates Coverage of CombiMatrix Corporation with a BUY Rating and an $18.00 Price Target 2BMP Sunstone Receives Production License from the SFDA to Manufacture and Market Pediatric Multivitamin Granules in the PRC 2BMP Sunstone Receives Production License from the SFDA to Manufacture and Market Pediatric Multivitamin Granules in the PRC 3BMP Sunstone Receives Production License from the SFDA to Manufacture and Market Pediatric Multivitamin Granules in the PRC 4BeaconEquity.com Issues Trade Alerts on Biotechnology Stocks: ELN, PFE, AMGN, DNA, BIIB, GILD 2BeaconEquity.com Issues Trade Alerts on Biotechnology Stocks: ELN, PFE, AMGN, DNA, BIIB, GILD 3
(Date:8/22/2014)... Bethesda, MD FASEB MARC (Maximizing Access to Research ... the FASEB Grant Writing Seminar & Practical Exercises Workshop ... in Bethesda, Maryland from August 25-26, 2014. These ... postdoctorates and research scientists from underrepresented groups in the ... This year MARC conferred 11 awards totaling $20,350. ...
(Date:8/22/2014)... important discoveries in basic and clinical research and ... into a complex offensive spanning multiple fronts. , ... lab could help find new and more selective ... that targets a specific enzyme overexpressed in certain ... from brain tumours. , Chemistry professor Christopher Cairo ...
(Date:8/22/2014)... study of captive black rhino reproduction in Europe ... of breeding programmes. , Researchers from Chester Zoo, ... Liverpool carried out a six-year study which encompassed ... Dr Katie Edwards led the research as part ... She says: "Although some black rhinoceros breed well ...
Breaking Biology News(10 mins):New enzyme targets for selective cancer therapies 2New enzyme targets for selective cancer therapies 3Hormone analysis helps identify horny rhinos 2
... March 7, 2013 (Bronx, NY) Researchers at ... been awarded a $12 million grant from the National Institutes ... prevent HIV infection in women. "As we move into ... having its greatest impact on women, particularly in sub-Sahara Africa," ...
... MD FASEB MARC (Maximizing Access to Research Careers) ... 2013 American College of Sports Medicine (ACSM) Northwest Chapter ... awards are meant to promote the entry of underrepresented ... the basic science community and to encourage the participation ...
... Research Council (BBSRC) has launched a bioscience response to ... that threatens our third most common broadleaf tree (after ... has been awarded to gather an in-depth understanding of ... about some ash trees, natural resistance to attack. Computer ...
Cached Biology News:Einstein receives $12 million grant to develop device for preventing HIV infection 2Einstein receives $12 million grant to develop device for preventing HIV infection 3Bioscience to battle ash dieback 2Bioscience to battle ash dieback 3
Sterile, Cell culture tested...
... have been many modifications to the original formulas ... solutions still play an important role in tissue,culture. ... pH and osmotic balance in the medium and ... inorganic ions, is as valuable today as when ...
A substrate for all AChE-based EIA kits....
The Synergy HT utilizes a unique dual-optics design combined with monochromator wavelength selection to provide uncompromised performance in absorbance, fluorescence and luminescence reading modes. ...
Biology Products: