BOSTON, Nov. 26, 2019 /PRNewswire/ -- Caliber Imaging & Diagnostics, Inc. (Caliber I.D.) a global leader of confocal microscopy for non-invasive cellular-level imaging of the skin, announced today the closing of a $5.0 million term loan financing from Bridge Bank. The first $3.0 million tranche will be funded immediately upon closing and the remaining tranche of $2.0 million will be available upon satisfaction of certain operational and financing covenants. The proceeds from this financing will be used to expand sales and marketing team and capabilities and for working capital and general corporate purposes.

Along with the debt financing, the company also raised $1.5 million in equity financing in a private placement with existing shareholders.

"The Caliber team was pleased to work with the Maxim Group to find a partner like Bridge Bank.  The proceeds from these financings will enable us to execute upon our strategic growth plan," said Mike Hone, Chief Executive Officer of Caliber I.D.

"It was a pleasure working with the team at Caliber to get them the specific financing they needed to meet their strategic growth objectives," said Lauren Cosentino, Vice President in Bridge Bank's Life Sciences Group. "Our team looks forward to supporting Caliber I.D. on their continued path of growth."

Maxim Group LLC acted as exclusive financial advisor and placement agent in connection with the debt financing.

About Caliber Imaging & Diagnostics, Inc.

Caliber Imaging & Diagnostics, Inc. is a global leader in the design and manufacture of in-vivo and ex-vivo confocal microscopy equipment for the medical device, clinical research and life science industries. Headquartered in Andover, Massachusetts, Caliber I.D. has more than 20 years of experience specializing in confocal microscopy. Caliber I.D.'s VIVASCOPE System product portfolio has been widely studied and published in more than 800 peer-reviewed articles. For more information about Caliber I.D. and its products, please visit www.caliberid.com.

About Bridge Bank

Bridge Bank, a division of Western Alliance Bank, Member FDIC, helps business clients realize their growth ambitions. Founded in 2001 in Silicon Valley, Bridge Bank offers a better way to bank for small-market and middle-market businesses across many industries, as well as emerging technology companies and the private equity community. Geared to serving both venture-backed and non-venture-backed companies, Bridge Bank delivers a broad scope of financial solutions including growth capital, equipment and working capital credit facilities, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans, ESOP finance and a full line of international products and services. Based in San Jose, Bridge Bank has 16 offices in major markets across the country along with Western Alliance Bank's powerful array of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation. One of the country's top-performing banking companies, Western Alliance is ranked #1 regional bank by S&P Global Market Intelligence for 2018 and in the top 10 on the Forbes "Best Banks in America" list for four consecutive years, 2016-2019. For more information, visit bridgebank.com.

About Maxim Group LLC

Maxim Group LLC is a full-service investment banking, securities and wealth management firm headquartered in New York. The Firm provides a full array of financial services including investment banking; private wealth management; and global institutional equity, fixed-income and derivatives sales & trading, equity research and prime brokerage services to a diverse range of corporate clients, institutional investors and high net worth individuals. Maxim Group is a registered broker-dealer with the U.S. Securities and Exchange Commission (SEC) and the Municipal Securities Rulemaking Board (MSRB), and is a member of the following: Financial Industry Regulatory Authority (FINRA); Securities Insurance Protection Corporation (SIPC); NASDAQ Stock Market and NYSE Arca, Inc. To learn more about Maxim Group, visit www.maximgrp.com. 

Media Contact:
Caliber Imaging & Diagnostics, Inc. Mike Hone
CEO
 mhone@caliberid.com
+1 978-618-2181

SOURCE Caliber Imaging & Diagnostics, Inc.

Related Links

http://www.caliberid.com