Silicon Valley Bank named Ashraf Hebela the new head of technology and healthcare banking for North America. The company also announced that Lewis Hower will step up to lead startup banking.
Flux Power Holdings expanded the available credit under its existing facility with Silicon Valley Bank. The amended agreement increases the available capacity of the facility from $8 million to $14 million to support higher working capital requirements related to increased customer demand.
Grove Collaborative, a sustainable consumer products company, entered into a new loan and security agreement providing for a four-year, $72 million term loan. The loan agreement replaces Grove’s existing credit facilities with Silicon Valley Bank.
Aspen Neuroscience, a biotechnology company developing autologous cell therapies, including an iPSC-derived autologous neuron replacement treatment for Parkinson’s disease, signed a $40 million credit facility with Silicon Valley Bank. Deal terms were not disclosed.
Evolv Technology, a provider of artificial intelligence-based weapons detection security screening, closed a $75 million non-dilutive debt financing facility with Silicon Valley Bank.
SunVest Solar, an independent, vertically integrated solar business, closed a $113 million debt facility led by Silicon Valley Bank and a ’$41 million of tax equity from Rockwood Group.
Silicon Valley Bank and Hercules Capital provided a $300 million credit facility to Oak Street Health, a network of value-based primary care centers for adults on Medicare. The financing is intended to provide Oak Street Health with operational and strategic capital for the next several years.
ViewRay entered into a new five-year loan facility agreement with MidCap Financial and Silicon Valley Bank. The agreement consists of a term loan of up to $100 million and a revolving line of credit of up to $25 million.
Alida, a provider of experience management, secured a $60 million syndicated credit facility from National Bank of Canada through its technology and innovation banking group.
ALX Oncology, a clinical-stage immuno-oncology company, entered into a loan facility agreement with Oxford Finance and Silicon Valley Bank for up to $100 million of non-dilutive financing.