Palo Alto, CA, United States – AirXpanders, Inc. (ASX:AXP), a medical device company focused on the design, manufacture, sale and distribution of the AeroForm® Tissue Expander System, today announced that it has completed a US$15 million debt financing transaction with Oxford Finance LLC (“Oxford”), an industry-leading specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide. Additionally, under the terms of the loan agreement, AirXpanders is permitted to obtain a separate accounts receivable based line of credit with a third- party lender, subject to a right-of-first-refusal by Oxford and certain other conditions, of up to US$5.0 million any time prior to December 31, 2018.
“We are delighted to be working with a partner like Oxford,” said Scott Dodson, President and CEO of AirXpanders. “Under our current plans, this minimally dilutive debt financing positions us strongly with the working capital we need for our full US sales and marketing efforts and to drive our business expansion throughout the foreseeable future."
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