Epica International, Inc. Secures $18 Million Growth Capital Credit Facility From Avenue Capital Group to Drive Innovation and Expansion

LANDRUM, S.C. / ACCESSWIRE / September 17, 2024 / Epica International Inc., a global leader in advanced medical imaging and precision robotics, today announced the closing of an $18 million growth capital credit facility with [Avenue Venture Opportunities Fund, L.P. and Avenue Venture Opportunities Fund II, L.P., which are funds of] Avenue Capital Group. The initial funding of $13.5 million will be used to refinance existing debt, support strategic expansion, and accelerate research and development initiatives. An additional $4.5 million is available in tranches upon the achievement of specific performance milestones.

“This financing marks a significant milestone for Epica,” said Joe Soto, CEO of Epica International. “The capital infusion from Avenue Capital will empower us to strengthen our financial foundation, expand our market presence, and accelerate the development of groundbreaking technologies that will shape the future of medical imaging and robotics. We are thrilled to partner with Avenue Capital, a firm with a proven track record of supporting innovative companies.”

The growth capital loan has a four-year term and includes provisions for Avenue Capital to receive a 0.5% equity stake in Epica International, with an option to invest an additional $2 million in equity within two years. The lender also has the right to convert up to $3.5 million of their principal into common stock at a price of $8.50 per share.

“We are excited to partner with Epica International and support their mission to revolutionize medical imaging and robotics,” said Chad Norman, Senior Portfolio Manager at Avenue Capital. “Epica’s proprietary technology platforms and intellectual property portfolio position them for continued success in a rapidly growing market. We look forward to a long and fruitful partnership.”

Epica International’s advanced medical imaging and precision robotics solutions are used in a wide range of applications, including human and animal healthcare and research. The company’s patented technologies enhance user accuracy and outcomes, enabling clinicians and researchers to achieve new levels of precision and efficiency. The industrial robotics division specializes in innovative robotic solutions designed to streamline manufacturing processes. By combining advanced automation with precision engineering, the company empowers manufacturers to enhance efficiency, accuracy, and overall production quality.

This strategic financing aligns with a broader industry trend toward increased investment in medical technology innovation, particularly in areas such as minimally invasive surgery, image-guided therapy, and artificial intelligence-powered diagnostics. Epica International is well-positioned to capitalize on these trends and drive continued growth in the years ahead.

Sheppard Mullin, DLA Piper, and Facilitated Growth served as advisors on the transaction.

About Epica International Inc. Epica International is a global leader in advanced medical imaging and precision robotics platforms and cutting-edge robotic systems that enhance user accuracy and outcomes. The company holds 75 issued and pending patents on its medical imaging and robotics platforms in the U.S., EU, and other countries. Epica International is headquartered in Landrum, SC. For more information on Epica International, please visit our website at www.epicainternational.com

About Avenue Venture Opportunities

The Avenue Venture Debt Funds seek to provide creative financing solutions to high-growth, venture capital-backed technology and life science companies, focusing generally on companies within the underserved segment of the market created by the widening financing gap between commercial banks and larger debt funds. The Avenue Venture Debt funds are part of the larger group of funds of Avenue Capital Group. For additional information on Avenue Capital Group, which is a global investment firm with assets under management of approximately $12.2 billion, visit www.avenuecapital.com

Contact Information

Jose Soto
CEO
j.soto@epicainternational.com
(718) 541-2793

SOURCE: Epica International

View the original press release on newswire.com.

Staff

Recent Posts

Nicole Garrett and Under Pressure Hyperbarics Lead the Charge in Wellness Education With Immersive Events at L.A. Fashion Weekend and Beyond

BEVERLY HILLS, CALIFORNIA / ACCESSWIRE / November 21, 2024 / Nicole Garrett, CEO of Under…

2 hours ago

Beacon Healthcare Systems Expands Leadership Team with Addition of Ayman Mohamed as Chief Technology Officer

HUNTINGTON BEACH, Calif., Nov. 21, 2024 /PRNewswire/ -- Beacon Healthcare Systems, is pleased to announce…

5 hours ago

Talkiatry Ranked Number 6 Fastest-Growing Company in North America on the 2024 Deloitte Technology Fast 500™

Attributes Revenue Growth to Innovative Partnerships, Strong Team, and Unique Value-Based Care Model NEW YORK,…

5 hours ago

Bright Light Imaging Leverages Alpha Nodus’s Gravity Auth, Enhanced by Integration with ADS’s MedicsRIS, to Streamline Patient Care

Automation That Makes a Difference SUNRISE, Fla., Nov. 21, 2024 /PRNewswire/ -- When it comes…

5 hours ago

United Imaging Announces the First of Several New U.S. Product Launches For RSNA

The first uMI Panvivo in the world lands at the growing Pueblo Medical Imaging in…

5 hours ago