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Caliper's $25M Loan Agreement Amended

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Caliper Life Sciences said that it has entered into a third amendment and restated loan and security agreement with Silicon Valley Bank extending the maturity date of a credit facility and reducing the applicable interest rate and facility fees to be paid by Caliper.

The new amendment, disclosed in a document filed with the US Securities and Exchange Commission this week, pertains to an agreement with SVB, under which Caliper can borrow up to $25 million in the form of a revolving loan.

Under the terms of the third amendment, the maturity date on the credit facility has been extended to April 1, 2013. Also, the interest rate and facility fees to be paid by Caliper have been reduced, while the advance rate against Caliper's cash held at SVB for determining how much Caliper can borrow under the credit facility has been increased.

Caliper had previously said the cash from the credit facility will be used for ongoing operations and working capital needs.

The firm recently paid around $20 million, of which $7.9 million was in cash, to acquire Cambridge Research & Instrumentation.

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