Insider Brief
- Epica International secured an $18 million growth capital credit facility from Avenue Capital, with $13.5 million for refinancing, expansion, and R&D, plus $4.5 million available upon achieving milestones.
- The funding will accelerate Epica’s development of advanced medical imaging and precision robotics technologies for healthcare and manufacturing.
- Avenue Capital will receive a 0.5% equity stake in Epica, with options for further investment and stock conversion as part of the loan agreement.
PRESS RELEASE — Epica International Inc., a global leader in advanced medical imaging and precision robotics, today announced the closing of an $18 million growth capital credit facility with [Avenue Venture Opportunities Fund, L.P. and Avenue Venture Opportunities Fund II, L.P., which are funds of] Avenue Capital Group. The initial funding of $13.5 million will be used to refinance existing debt, support strategic expansion, and accelerate research and development initiatives. An additional $4.5 million is available in tranches upon the achievement of specific performance milestones.
“This financing marks a significant milestone for Epica,” said Joe Soto, CEO of Epica International. “The capital infusion from Avenue Capital will empower us to strengthen our financial foundation, expand our market presence, and accelerate the development of groundbreaking technologies that will shape the future of medical imaging and robotics. We are thrilled to partner with Avenue Capital, a firm with a proven track record of supporting innovative companies.”
The growth capital loan has a four-year term and includes provisions for Avenue Capital to receive a 0.5% equity stake in Epica International, with an option to invest an additional $2 million in equity within two years. The lender also has the right to convert up to $3.5 million of their principal into common stock at a price of $8.50 per share.
“We are excited to partner with Epica International and support their mission to revolutionize medical imaging and robotics,” said Chad Norman, Senior Portfolio Manager at Avenue Capital. “Epica’s proprietary technology platforms and intellectual property portfolio position them for continued success in a rapidly growing market. We look forward to a long and fruitful partnership.”
Epica International’s advanced medical imaging and precision robotics solutions are used in a wide range of applications, including human and animal healthcare and research. The company’s patented technologies enhance user accuracy and outcomes, enabling clinicians and researchers to achieve new levels of precision and efficiency. The industrial robotics division specializes in innovative robotic solutions designed to streamline manufacturing processes. By combining advanced automation with precision engineering, the company empowers manufacturers to enhance efficiency, accuracy, and overall production quality.
This strategic financing aligns with a broader industry trend toward increased investment in medical technology innovation, particularly in areas such as minimally invasive surgery, image-guided therapy, and artificial intelligence-powered diagnostics. Epica International is well-positioned to capitalize on these trends and drive continued growth in the years ahead.
Sheppard Mullin, DLA Piper, and Facilitated Growth served as advisors on the transaction.
About Epica International Inc. Epica International is a global leader in advanced medical imaging and precision robotics platforms and cutting-edge robotic systems that enhance user accuracy and outcomes. The company holds 75 issued and pending patents on its medical imaging and robotics platforms in the U.S., EU, and other countries. Epica International is headquartered in Landrum, SC. For more information on Epica International, please visit our website at www.epicainternational.com
About Avenue Venture Opportunities
The Avenue Venture Debt Funds seek to provide creative financing solutions to high-growth, venture capital-backed technology and life science companies, focusing generally on companies within the underserved segment of the market created by the widening financing gap between commercial banks and larger debt funds. The Avenue Venture Debt funds are part of the larger group of funds of Avenue Capital Group. For additional information on Avenue Capital Group, which is a global investment firm with assets under management of approximately $12.2 billion, visit www.avenuecapital.com
Contact Information
Jose Soto
CEO
[email protected]
(718) 541–2793
