Luna Innovations Announces New $7M Credit Facility

Luna Innovations Incorporated LUNA announced today that it has entered into a $7 million credit facility with Silicon Valley Bank. This credit facility includes a four-year term loan of $6 million and a $1 million revolving line of credit and replaces the $5 million dollar revolving credit facility that Luna established with SVB in February 2010. Luna has used the funds from the new credit facility to pay off the outstanding balance of the revolving credit line in the amount of $2.5 million and the outstanding $3.1 million balance on its $5.0 million promissory note to Hansen Medical, Inc.