ThermiAesthetics Secures $9M Debt Financing from Cypress Growth Capital and Silicon Valley Bank
ThermiAesthetics, a fast growing, privately held aesthetic technology company, announced today that it has secured $9,000,000 of debt financing from Cypress Growth Capital and Silicon Valley Bank. The investment will be used to support additional FDA applications, advance a pipeline of novel temperature controlled radio frequency products, and expand marketing efforts in building consumer awareness and sales force expansion. These closings occurred simultaneously, and Cypress and SVB have previously collaborated on a number of other financing transactions.
Cypress Growth Capital will provide up to $4,000,000 in royalty-based growth capital to ThermiAesthetics. This investment provided ThermiAesthetics with $2,000,000 at closing, with an additional $2,000,000 available upon ThermiAesthetics meeting certain conditions.
Silicon Valley Bank will provide up to $5,000,000 to ThermiAesthetics pursuant to a senior secured loan. This loan provided ThermiAesthetics with $3,000,000 at closing, with an additional $2,000,000 available upon ThermiAesthetics meeting certain conditions.