Luna Innovations, a global leader in advanced fiber optic-based technology, entered into a new five-year debt facility for $35 million. The debt is provided by PNC Bank. The new agreement includes a $20 million term loan facility and a $15 million revolving credit facility.

The new agreement provides the Company with a term loan of $20 million, with an interest rate of SOFR plus 10 basis points, in addition to a margin ranging from 175-250 basis points based on a net leverage ratio. The agreement also provides the Company with a revolving line of credit of up to $15 million, also with an interest rate of SOFR plus 10 basis points, in addition to a margin ranging from 175-250 basis points based on a net leverage ratio.

“We are pleased to again work with and extend our relationship with PNC,” said Scott Graeff, President and Chief Executive Officer. “We appreciate that PNC continues to demonstrate their support and confidence in Luna. Access to this additional capital gives us the financial flexibility to invest in future growth opportunities.”