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Luna Innovations (LUNA) has shared an announcement.
Luna Innovations Incorporated secured a $15 million delayed-draw term loan facility with White Hat Capital Partners LP, drawing $9 million initially and with further tranches available under conditions linked to the pursuit of a company sale. The loan, bearing interest at SOFR plus 10-12%, matures on December 31, 2024, with a possible extension to April 30, 2025. Additionally, Kevin Ilcisin has been appointed as the new President and CEO, bringing extensive experience from his previous roles. He will receive a base salary plus potential bonuses and has been granted stock options, emphasizing the company’s strategic focus on leadership and financial agility.
For an in-depth examination of LUNA stock, go to TipRanks’ Stock Analysis page.