Sphere will draw down half of the facility immediately; the rest of the facility will be conditionally available until March 2018.
The funds will be used for general corporate purposes.
The money borrowed needs to be paid back by March 2020.
Investment overview: Sphere Medical set for step change as Proxima 4 launches
"Now that we have launched Proxima 4, this additional funding gives us important extra flexibility as we advance through the launch phase,” said Richard Wright, Sphere’s chief financial officer.