Glowpoint, Inc. refinanced its existing debt facilities and has secured a new credit facility from Main Street Capital Corporation, consisting of a term loan commitment of $11.0 million and a revolving line of credit up to $2.0 million.  On October 17, 2013, the Company received an initial term loan of $9.0 million and funding of $0.2 million on the revolver.  The Company may request additional term loans up to $2.0 million subject to the terms and conditions of the loan agreement and approval by Main Street.  The proceeds of the $9.0 million term loan will be used to repay $8.5 million of existing term loans in addition to facility fees and expenses.

The term loan matures on October 17, 2018, with monthly interest payments and quarterly principal payments based on a certain percentage of excess cash flow as defined in the loan agreement.  

"Main Street Capital is one of the leading Business Development Companies in the market today for a reason – they work very closely with their portfolio companies to provide expansion capital for shareholder growth. Their track record is unsurpassed and I look forward to continuing our long term relationship," said Pete Holst, President and CEO.

"Main Street is very excited to be partnering with Glowpoint and its management team. Main Street's investment philosophy centers around providing capital to established, growing companies that are led by strong management teams and we believe this investment is a great fit for that philosophy. We look forward to our relationship and hope to help the company continue to grow by providing flexible capital as needed," said Robert Shuford, Managing Director of Main Street Capital Corporation.

Glowpoint, Inc. provides video collaboration, network, and support services to large and mid-sized enterprises to support their unified communications (UC) strategies and business goals. More than 1,000 organizations in 96 countries rely on our unmatched experience, business-class support and cloud-based services to collaborate with colleagues, business partners, and customers more effectively.