Paris, February 8, 2017 – Mauna Kea Technologies (Euronext: MKEA, OTCQX: MKEAY) inventor of Cellvizio®, the multidisciplinary confocal laser endomicroscopy platform, today announced that it has secured a nondilutive, €7.0 million senior debt financing with IPF Partners, a leading provider of alternative financing solutions for emerging, commercial-stage European healthcare companies.<\/p>\n
The debt financing is comprised of two tranches of bonds, with the first tranche of €4.0 million issued today, and the second tranche for the remaining €3.0 million available in the next 12 months, subject to preset closing conditions.<\/p>\n
Benoit Jacheet, Chief Financial Officer of Mauna Kea Technologies, said, “We are pleased to complete this debt financing with IPF Partners, which provides the Company with additional capital to support our planned investments in Mauna Kea’s global commercialization capacity, including upgrading our U.S. sales and marketing team and supporting our strategic partnership with Cook Medical.”<\/p>\n
This financing consists of 7,000,000 secured bonds with a total value of €7.0 million. The interest on the bonds will bear interest at an annual rate equal to the 3-month EURIBOR +8.5%. The first tranche of bonds has a 5-year maturity, with interest-only payments for the first 18 months, and the second tranche of bonds has a 4-year maturity, with interest-only payments for 12 months. The terms of the bonds contain certain financial covenants.<\/p>\n
About Mauna Kea Technologies <\/strong><\/p>\n Mauna Kea Technologies is a global medical device company focused on eliminating uncertainties related to the diagnosis and treatment of cancer and other diseases thanks to real time in vivo microscopic visualization. The Company’s flagship product, Cellvizio, has received clearance to sell a wide range of applications in more than 40 countries, including the United States, Europe, Japan, China, Canada, Brazil and Mexico. For more information on Mauna Kea Technologies, visit www.maunakeatech.com<\/p>\n About IPF Partners<\/strong><\/p>\n IPF Partners is an investment platform founded by a team of 4 fund managers and healthcare sector leaders. The IPF I fund, which was launched in October 2013, provides bespoke debt and other financing solutions – with little to no dilution – to finance growth and acquisitions of healthcare companies that have reached commercial stage. IPF I has already committed c. 83 million euros to European medical technology and software companies. www.ipfpartners.com<\/p>\n United States: <\/strong>Zack Kubow \/ Lee Roth The Ruth Group 646-536-7020 \/ 7012 zkubow@theruthgroup.com lroth@theruthgroup.com<\/p>\n U.S. Media: <\/strong>Kirsten Thomas The Ruth Group 508-280-6592 kthomas@theruthgroup.com<\/p>\n France and Europe NewCap:<\/strong> Investor Relations Florent Alba +33 (0)1 44 71 94 94 maunakea@newcap.eu<\/p>\n","protected":false},"excerpt":{"rendered":" Paris, February 8, 2017 – Mauna Kea Technologies (Euronext: MKEA, OTCQX: MKEAY) inventor of Cellvizio®, the multidisciplinary confocal laser endomicroscopy platform, today announced that it has secured a nondilutive, €7.0 million senior debt financing with IPF Partners, a leading provider of alternative financing solutions for emerging, commercial-stage European healthcare companies. The debt financing is comprised […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[34],"tags":[],"class_list":["post-5160","post","type-post","status-publish","format-standard","hentry","category-news-int"],"yoast_head":"\n