Proactive Investors - Run By Investors For Investors

Sphere Medical secures loan facility with Silicon Valley Bank

The support from Silicon Valley Bank is a further demonstration of the continuing commercialisation of the company
Proxima 4
The funds will enable the company to put more marketing oomph behind its Proxima 4 product

Blood gases monitor maker Sphere Medical Holding PLC (LON:SPHR) has secured a £3mln loan facility from Silicon Valley Bank.

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.

"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. 

Why Invest In Sphere Medical Holding PLC? Read More Here

Register here to be notified of future SPHR Company articles
View full SPHR profile

Sphere Medical Holding PLC Timeline

Related Articles

Knee surgery
February 02 2017
The treatment involves removing cellular material from animal and human tissue to leave a matrix which gives a framework for population by the patient’s own cells.
January 19 2017
Turnover was £40.4mln in the six months to December
Find out more from Richard Lipscombe at Proactive's CEO Sessions.

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use