iRhythm (IRTC) currently has a $35M term loan outstanding with SVB (SIVB). Under the terms of the term loan agreement, this term loan is not callable by SVB outside of an event of default. The company also has a further undrawn $40M available under its term loan facility and $25M under a revolving credit line upon which the company is not reliant for daily operations. The company affirmed its expectation that its cash, cash equivalents, and short-term investments held outside of SVB will be sufficient to operate the company’s business and meet its cash requirements for the foreseeable future.
Published first on TheFly
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