This financing structure allows our shareholders to continue to retain valuable equity while it allows Thermi to leverage its platform at accelerated rates.
Irving, TX (PRWEB) July 08, 2015
Thermi, known formally as ThermiAesthetics, a fast growing, privately held aesthetic technology company, announced today that it has secured the final $2,000,000 advance from the debt financing agreement with Cypress Growth Capital. The investment will be used to continue to support operational expansion of the product line and sales growth into new international markets.
Previously Cypress Growth Capital had committed to provide up to $4,000,000 in royalty-based growth capital to Thermi. This investment provided Thermi with $2,000,000 at closing in December 2014, with an additional $2,000,000 available upon Thermi meeting certain conditions.
“This minimally dilutive financing program from Cypress Growth Capital allows the Company to continue to focus on the expansion of the product line, continued infrastructure and regulatory investments to further advance international distribution,” said Paul Herchman, CEO. Mike McDonald, CFO also stated, “This financing structure allows our shareholders to continue to retain valuable equity while it allows Thermi to leverage its platform at accelerated rates."
“We have been impressed with Thermi since we first met them”, said Bart Goodwin, Managing Director and Co-Founder at Cypress. “They are a successful, fast growing company, run by an impressive management team who covet their equity. We feel very privileged to have them as a member of our investment portfolio.”
The Thermi flagship product is the ThermiRF Temperature Controlled Radio Frequency Generator System, which is FDA cleared for dermatological and general surgical procedures for electrocoagulation and hemostasis, and to create lesions in nervous tissue. ThermiRF is an advanced technology using finely controlled thermal energy. It is a multi-use platform, which promotes increased patient safety and clinical effectiveness, while providing versatile solutions for physicians serving the aesthetic market. ThermiRF features a unique temperature control feature and uses proprietary hand pieces, which are designed for specific medical applications. These include a variety of disposal RF electrodes and cannulas and reusable non-invasive hand pieces. For more information, please visit http://www.thermi.com.
About Cypress Growth Capital
Cypress Growth Capital is the largest and most active royalty-based growth capital firm in the United States. An alternative to traditional debt and equity instruments, royalty-based growth capital offers entrepreneurs access to significant capital while preserving equity and control. Cypress invests $1 million to $5 million in software and technology-enabled business services companies located in the Southwest with annual revenues between $3M and $20M. With available capital, a proven track record of nineteen royalty-based investments, and an investment team that has extensive entrepreneurial and operating experience, Cypress Growth Capital is a proven and valued funding partner. For more information, please visit; http://www.cypressgrowthcapital.com.