Epica International Secures $18 Million Credit Facility for Growth and Innovation

LANDRUM, S.C. / ACCESSWIRE / September 17, 2024 / Epica International Inc., a leader in advanced medical imaging and robotics, has closed an $18 million growth capital credit facility with Avenue Capital Group. The initial $13.5 million will refinance existing debt, support strategic expansion, and accelerate R&D. An additional $4.5 million is available upon achieving specific milestones.

CEO Joe Soto highlighted that this financing strengthens Epica’s financial foundation, market presence, and technological development.

The four-year loan includes a 0.5% equity stake for Avenue Capital and options for further investment. The lender can convert up to $3.5 million into common stock at $8.50 per share.

Avenue Capital's Chad Norman expressed excitement about supporting Epica's mission in the rapidly growing medical imaging and robotics market.

Epica’s solutions are used in human and animal healthcare and research, enhancing accuracy and efficiency. This financing aligns with the industry's investment trend in medical technology innovation.