Axogen Announces New Seven-Year Financing Agreement With Oberland Capital (Globe Newswire)

Axogen Announces New Seven-Year Financing Agreement With Oberland Capital

UF startup and UF Innovate | Sid Martin Biotech alum Axogen, Inc., a global leader in developing and marketing innovative surgical solutions for peripheral nerve injuries, announced a financing agreement with Oberland Capital and provided preliminary, estimated revenue for the second quarter ended June 30, 2020.

The financing agreement provides up to $75 million in three tranches with interest only payments over seven years. “We are pleased to announce this new debt facility with Oberland Capital,” noted Peter J. Mariani, chief financial officer of Axogen. “The addition of this facility further strengthens our balance sheet and supports the completion of our new Dayton biologic processing center in 2021. We believe that our strong balance sheet and continued commitment to our cost mitigation initiatives will allow us to emerge from the COVID-19 downturn a stronger, leaner organization and on a path to profitability.”

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