NPCE · NeuroPace Inc · Debt

On June 4, 2025 (the “Closing Date”), NeuroPace, Inc. (the “Company”) entered into a credit, security and guaranty agreement (the “Credit Agreement”) by and among the Company, MidCap Funding IV Trust, as agent, MidCap Financial Trust, as term loan servicer and the financial institutions and other entities from time to time party thereto. The Credit Agreement provides for a first lien senior secured credit facility consisting of (i) a $60 million term loan facility, which was funded at closing of the Credit Agreement (the “Term Loan”); and (ii) an asset-based revolving credit facility in an aggregate principal amount not to exceed the lesser of (A) a $15 million commitment amount and (B) the available borrowing base under the Credit Agreement (the “Revolver,” and together with the Term Loan, the “Loans”). The proceeds of the Term Loan will be used to fully repay the Company’s existing secured indebtedness and the Revolver will be used for general working capital needs and other general corporate purposes of the Company.

Issuer evidence: On June 4, 2025 (the “Closing Date”), NeuroPace, Inc. (the “Company”) entered into a credit, security and guaranty agreement (the “Credit Agreement”) by and among the Company, MidCap Funding IV Trust, as agent, MidCap Financial Trust, as term loan servicer and the financial institutions and other entities from time to time party thereto. The Credit Agreement provides for a first lien senior secured credit facility consisting of (i) a $60 million term loan facility, which was funded at closing of the Credit Agreement (the “Term Loan”); and (ii) an asset-based revolving credit facility in an aggregate principal amount not to exceed the lesser of (A) a $15 million commitment amount and (B) the available borrowing base under the Credit Agreement (the “Revolver,” and together with the Term Loan, the “Loans”). The proceeds of the Term Loan will be used to fully repay the Company’s existing secured indebtedness and the Revolver will be used for general working capital needs and other general corporate purposes of the Company.

Supporting evidence: The Loans will mature on June 4, 2030. The Term Loan will accrue interest at a rate equal to SOFR plus a margin of 5.50%, subject to a SOFR floor of 2.00%. Borrowings under the Revolver will accrue interest at a rate equal to SOFR plus a margin of 3.75%, subject to a SOFR floor of 2.00%. Interest will be payable monthly in cash. The Company will pay an unused line fee on any unused portion of the Revolver, which will accrue at a rate of 0.25% per annum.

Supporting evidence: On June 4, 2025 (the “Closing Date”), NeuroPace, Inc. (the “Company”) entered into a credit, security and guaranty agreement (the “Credit Agreement”) by and among the Company, MidCap Funding IV Trust, as agent, MidCap Financial Trust, as term loan servicer and the financial institutions and other entities from time to time party thereto. The Credit Agreement provides for a first lien senior secured credit facility consisting of (i) a $60 million term loan facility, which was funded at closing of the Credit Agreement (the “Term Loan”); and (ii) an asset-based revolving credit facility in an aggregate principal amount not to exceed the lesser of (A) a $15 million commitment amount and (B) the available borrowing base under the Credit Agreement (the “Revolver,” and together with the Term Loan, the “Loans”). The proceeds of the Term Loan will be used to fully repay the Company’s existing secured indebtedness and the Revolver will be used for general working capital needs and other general corporate purposes of the Company.

Supporting evidence: On June 4, 2025 (the “Closing Date”), NeuroPace, Inc. (the “Company”) entered into a credit, security and guaranty agreement (the “Credit Agreement”) by and among the Company, MidCap Funding IV Trust, as agent, MidCap Financial Trust, as term loan servicer and the financial institutions and other entities from time to time party thereto. The Credit Agreement provides for a first lien senior secured credit facility consisting of (i) a $60 million term loan facility, which was funded at closing of the Credit Agreement (the “Term Loan”); and (ii) an asset-based revolving credit facility in an aggregate principal amount not to exceed the lesser of (A) a $15 million commitment amount and (B) the available borrowing base under the Credit Agreement (the “Revolver,” and together with the Term Loan, the “Loans”). The proceeds of the Term Loan will be used to fully repay the Company’s existing secured indebtedness and the Revolver will be used for general working capital needs and other general corporate purposes of the Company.