Luna Innovations announced a $50M investment by investment firm White Hat Capital Partners. Proceeds from this strategic investment were partially used to fund the acquisition of Silixa and related transaction costs in the aggregate amount of approximately $25M. Remaining proceeds were used to repay the company’s outstanding $17M term loan with PNC Bank and strengthen the company’s balance sheet. In conjunction with the strategic investment, David Chanley joined Luna‘s Board of Directors. Chanley is a Co-Founder and Managing Partner of White Hat.
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