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Bridge Bank National Association Raises Credit Line for Fluidigm to $10M

NEW YORK (GenomeWeb News) –Fluidigm has modified its financing agreement with Bridge Bank, National Association, the South San Francisco, Calif.-based company said in a regulatory filing on Thursday.

The modification to the agreement establishes a higher credit limit of $10.0 million for advances made pursant to the existing business financing agreement between Fluidigm and Bridge Bank forged in December 2010, Fluidigm said in its document filed with the US Securities and Exchange Commission. The credit line was originally set at $4 million, then increased to $7 million in April 2011.

The modificaion also "permits eligible receivables advances and non-formula advances but provides a sublimit for non-formula advances of $6.0 million, and extends the maturity date to December 16, 2014. The interest rate to the prime rate, as defined by the original agreement, plus .50 percent.

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