For better or for worse. Here's a compilation.
I looked at the revolving debt history, balance sheet, and history of loan news reports. They are using the money as needed. I would expect Q4 and Q1 18 to show some increase. All for a good purpose.
12/31/2015 – no revolving debt.
3/9/2016 – Appears to be original agreement with SVB MCF. $10 mil with Mid, 5 Mil with SVB
3/9/2016 - Katherine Andersen, Managing Director of Silicon Valley Bank, commented, "We are pleased to partner with Vericel as the company works to expand its portfolio of cell therapy products. Our aim is to provide Vericel with the right financing tools to advance its product portfolio and position the company to meet its corporate objectives."
Q2 2016 report – 2.3 Mil revolving debt – balance sheet.
9/12/2016 – News – Enters into expanded line of credit with SVB and MCF up to $15 Mil.
9/12/2016 - Katherine Andersen, managing director of Silicon Valley Bank, commented, “Vericel is driving important advancements in cell therapy and it is our pleasure to expand our partnership to support their continued efforts.”
Q3 2016 report – 5.56 Mil revolving debt – balance sheet.
12/31/2016 – Q-4 report -9.3 mil revolving debt.
Q1 2017 – 8.679 M revolving debt
Q2 2017 – 8.0 M revolving debt.
Q3 2017 – 7.4 Mil revolving debt.
12/7/2017 – Line of credit with SVB and MCF reports expanding to 25 Mil. from 15 mil. (contradicts 9/12/16 report which reads 20 Mil, but there ya go)
12/7/2017 - Ryan Roller, vice president of Silicon Valley Bank, commented, "Vericel is on a strong growth trajectory and we are pleased to significantly expand our relationship to support their continued efforts to treat more patients with their unique cell therapy products."
