Flexible Electronics News

Identive Secures New Growth Capital

Initial drawdown of $7.5M completed, with agreement for future financing

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By: DAVID SAVASTANO

Editor, Ink World Magazine

Identive Group, Inc. announced that it has entered into a $10 million secured loan agreement with Hercules Technology Growth Capital, Inc. On Oct. 30, 2012, Identive received an initial advance of $7.5 million, and has the opportunity to borrow an additional $12.5 million for a total of $20 million, subject to terms and conditions set forth in the agreement. The initial drawdown of $7.5 million is in the form of a three-year promissory note that bears interest at a rate of the greater of the ...

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