Runway Growth Credit Fund Inc. Announces $20,000,000 Senior Secured Term Loan Facility to Massachusetts-based Mobius Imaging, LLC.
CHICAGO, Jan. 24, 2019 /PRNewswire/ -- Runway Growth Capital has announced today that it has provided up to $20 million in senior secured debt financing to Mobius Imaging, LLC, a Shirley, Massachusetts- based health care technology company. Mobius will use the capital to support its continued growth, next generation product development, and scale up the business.
Mobius manufactures and markets advanced intraoperative CT imaging products for use in operating rooms that reduce radiation exposure. The company currently has in market the Airo, an FDA approved mobile CT imaging device for use in the operating room. Its pipeline includes two additional CT products.
"We believe Mobius' unique CT scanning capabilities will create a new standard for interoperative imaging, improving safety for both surgeons and patients," said Runway Growth's CEO, David Spreng. Mobius President & CEO, Eugene Gregerson, said "We are excited to partner with Runway Growth to support our continued expansion. Many other lenders focus on companies with traditional venture capital investment, but Runway's expertise and ability to understand our business allowed them to provide a loan structure that fits our growth goals."
About Runway Growth Capital LLC and Runway Growth Credit Fund, Inc.
Runway Growth Capital LLC is the exclusive investment advisor to Runway Growth Credit Fund Inc. Runway Growth Credit Fund Inc. is a lender of growth capital to companies seeking an alternative to raising equity. Led by industry veteran David Spreng, the fund provides senior term loans of $10 million to $50 million to fast-growing companies based in the United States and Canada. Runway Growth Credit Fund Inc. is a closed end investment fund which is regulated as a business development company under the Investment Company Act of 1940. For more on the fund and its manager, Runway Growth Capital LLC, please visit our website at www.runwaygrowth.com.