Stereotaxis, Inc. (Nasdaq: STXS) announced today that the Company has closed on its previously announced $40 million credit facility, which includes a $30 million revolving facility that matures on March 31, 2012 and a $10 million term loan that matures on December 31, 2013. The new facility was led by Silicon Valley Bank, and replaces the Company's previous facility that was scheduled to mature in March 2011.
"We are pleased that this new facility allows us to balance our capital structure in a manner that minimizes our cost of capital and equity dilution. We believe the increased liquidity and financial flexibility provided by this facility should enhance our ability to drive to commercial success with our technology platform that addresses the large and growing heart arrhythmias market," said Mike Kaminski, Chief Executive Officer of Stereotaxis.