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Caliper Inks $25M Credit Facility Agreement

NEW YORK (GenomeWeb News) – Caliper Life Sciences has restructured a credit facility agreement with Silicon Valley Bank allowing Caliper to borrow up to $25 million through revolving loan advances including as much as $5 million in letters of credit.  

According to a filing Thursday with the US Securities and Exchange Commission, Caliper plans to use the capital to fund ongoing operations and working capital needs. The agreement amends and restates a credit facility and loan Caliper received from SVB in 2006.

The facility, which matures on June 30, 2009, allows Caliper to borrow as much as $25 million as long as it maintains at least that much in unrestricted cash with SVB.

The facility also includes conditions related to payment defaults, as well as covenants related to the liquidity and earnings levels that Caliper must maintain at the end of each quarter.

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