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Viveve(R) Announces Closing of $10 Million Senior Secured Term Loan With Bridge Bank
Viveve(R) Announces Closing of $10 Million Senior Secured Term Loan With Bridge Bank.
About this update from Viveve Medical, Inc.
[{"type":"text","content":"\nViveve(R) Announces Closing of $10 Million Senior Secured Term Loan With Bridge Bank\n\nViveve(R) Announces Closing of $10 Million Senior Secured Term Loan With Bridge Bank\n\nSUNNYVALE, CA--(Marketwired - June 20, 2016) - Viveve Medical, Inc. (\"Viveve\") (NASDAQ: VIVE), a medical technology company focused on women's health, today announced that it has completed a debt refinancing that includes a new senior secured term loan of $10 million with the Life Sciences Group of Bridge Bank, a full-service professional business bank headquartered in San Jose. The proceeds from the loan will be used to repay Viveve's existing outstanding indebtedness with Pacific Western Bank, as successor in interest to Square 1 Bank and to provide general working capital to fund its operations. The new term loan will expand Viveve's access to capital as it carries out its plan of operations.\"We are very pleased with our new relationship with Bridge Bank, which will provide us with additional access to capital as we execute our global commercialization plan,\" commented Patricia Scheller, the Company's chief executive officer. \"We are appreciative of the new relationship and financial support we are gaining with this transaction.\"\"Bridge Bank is excited to be a resource and partner to Viveve Medical, Inc., said Rob Lake, senior vice president and head of Bridge Bank's life sciences group. \"I have known the company for a long time and am impressed with its accomplishments, as well as its trajectory.\"About ViveveViveve Medical, Inc., is a women's health company passionately committed to advancing new solutions to improve women's overall well-being and quality of life. The company's lead product, the globally patented Viveve System, is a non-surgical, non-ablative medical device that remodels collagen and restores tissue with only one treatment session. The Viveve System treats the condition of vaginal laxity that can result in decreased physical sensation and sexual satisfaction. Physician surveys indicate that vaginal laxity is the number one post-delivery physical change for women, being more prevalent than weight gain, urinary incontinence or stretch marks. The Viveve Treatment uses patented, reverse-thermal gradient radiofrequency technology to tighten vaginal tissue in one 30-minute out-patient treatment in a physician's office. The Viveve ...