Full Press Release Details
Secures Accounts Receivable Credit Facility
BELGRADE, Mont. Apr. 24, 2012 - Bacterin International Holdings,
Inc. (NYSE Amex: BONE), a leader in the development of revolutionary bone graft material and antimicrobial coatings for medical
applications, has secured an accounts receivable credit facility with Midcap Financial LLC and Silicon Valley Bank. The revolving
loan credit facility allows Bacterin to borrow up to $5 million through January 1, 2015. The facility allows borrowings based upon
a predetermined formula of up to 80% of Bacterin's eligible accounts receivable, as defined in the credit and security agreement.
"Due to the high working capital needs of our business
associated with the necessity for our inventory to be consigned to our hospital accounts, the accounts receivable facility is an
efficient way for Bacterin to access cash, from time to time, without diluting equity," said Guy Cook, Chairman and CEO of
Bacterin. "Our strong relationships with Silicon Valley Bank and Midcap Financial helped us to secure this non-dilutive financing
option, as we prepare for the next stage of growth at Bacterin International."
About Bacterin International Holdings
Bacterin International Holdings, Inc. (NYSE Amex: BONE) develops,
manufactures and markets biologics products to domestic and international markets. Bacterin's proprietary methods optimize the
growth factors in human allografts to create the ideal stem cell scaffold to promote bone, subchondral repair and dermal growth.
These products are used in a variety of applications including enhancing fusion in spine surgery, relief of back pain, promotion
of bone growth in foot and ankle surgery, promotion of cranial healing following neurosurgery and subchondral repair in knee and
other joint surgeries.
Bacterin's Medical Device division develops, employs, and licenses
bioactive coatings for various medical device applications. Bacterin's strategic coating initiatives include antimicrobial coatings
designed to inhibit biofilm formation and microbial contamination. For further information, please visit www.bacterin.com.
About MidCap Financial, LLC
MidCap Financial is a commercial finance company focused on
middle market lending in the broad national healthcare industry. MidCap specializes in $5 million to $200 million loans. The company
is headquartered in Bethesda, MD, with offices in Chicago and Los Angeles, and focuses in four areas:
-Asset-Based working capital loans to healthcare providers collateralized
by third-party accounts receivable and other assets;
-Leveraged loans to healthcare companies backed by private equity
-Life Sciences loans to VC-backed and public pharmaceutical,
biotech, and medical device companies;
-Real Estate loans to skilled nursing facilities, senior housing
properties, and medical office buildings
Additional information about MidCap Financial can be found at
About Silicon Valley Bank
Silicon Valley Bank is the premier
bank for technology, life science, cleantech, venture capital, private equity and premium wine businesses. SVB provides industry
knowledge and connections, financing, treasury management, corporate investment and international banking services to its clients
worldwide through 27 U.S. offices and seven international operations. (Nasdaq: SIVB) www.svb.com.
Silicon Valley Bank is the California bank subsidiary and
the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the
FDIC and the Federal Reserve System. SVB Private Bank is a division of Silicon Valley Bank. SVB Financial Group is also a member
of the Federal Reserve System.
Important Cautions Regarding Forward-looking Statements
This news release contains certain disclosures that may be deemed
forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to significant
risks and uncertainties. Forward-looking statements include statements that are predictive in nature, that depend upon or refer
to future events or conditions, or that include words such as "continue," "efforts," "expects," "anticipates,"
"intends," "plans," "believes," "estimates," "projects," "forecasts,"
"strategy," "will," "goal," "target," "prospects," "potential," "optimistic,"
"confident," "likely," "probable" or similar expressions or the negative thereof. Statements of historical
fact also may be deemed to be forward-looking statements. We caution that these statements by their nature involve risks and uncertainties,
and actual results may differ materially depending on a variety of important factors, including, among others: the Company's ability
to launch beta and full product releases, the Company's ability to obtain FDA concurrence use for anti-microbial coatings in a
timely manner; the Company's ability to meet its obligations under existing and anticipated contractual obligations; the Company's
ability to develop, market, sell and distribute desirable applications, products and services and to protect its intellectual property;
the ability of the Company's sales force to achieve expected results; the ability of the Company's customers to pay and the timeliness
of such payments, particularly during recessionary periods; the Company's ability to obtain financing as and when needed; changes
in consumer demands and preferences; the Company's ability to attract and retain management and employees with appropriate skills
and expertise; the impact of changes in market, legal and regulatory conditions and in the applicable business environment, including
actions of competitors; and other factors. Additional risk factors are listed in the Company's Annual Report on Form 10-K under
the heading "Risk Factors." The Company undertakes no obligation to release publicly any revisions to any forward-looking
statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except
James Carbonara, Regional Vice President, 646-755-7412
Brett Maas, 646-536-7331