NeuroPace Secures Up to $75 Million in Debt Financing

Core Viewpoint - NeuroPace, Inc. has secured a new $75 million credit facility with MidCap Financial to enhance its financial flexibility and support growth initiatives in the epilepsy treatment market [1][2]. Financing Details - The credit facility consists of a $60 million term loan and a $15 million revolving credit facility, with proceeds from the term loan used to repay an existing loan with CRG Partners IV, L.P. [1][2] - The new loan agreement has a maturity date of five years, with an annual interest rate tied to SOFR, subject to a floor of 2%, plus 5.5% for the term loan and 3.75% for the revolving loan [2]. Strategic Goals - The company aims to use the proceeds to expand patient access to its RNS System, invest in site-of-service expansion, explore new indications, develop direct-to-consumer programs, and generate real-world evidence [2]. - NeuroPace's RNS System is the first commercially available brain-responsive platform designed to provide personalized treatment for drug-resistant epilepsy [4]. Company Background - NeuroPace is based in Mountain View, California, and focuses on transforming the lives of individuals with epilepsy by reducing or eliminating seizures through innovative medical devices [4]. - The company has a unique position in the market with its differentiated RNS System, which aims to improve care standards for patients suffering from various brain disorders [4]. Partner Information - MidCap Financial specializes in providing senior debt solutions to middle-market companies and manages approximately $55 billion in commitments as of March 31, 2025 [5].