Sequenom Corp fka SQNM

[surf1944]

7:03AM Sequenom subsidiary secured a $30.0 million financing commitment from Silicon Valley Bank (SQNM) 7.80 : Co announces that its subsidiary has secured a $30.0 million financing commitment from Silicon Valley Bank's San Diego-based team. Sequenom will use proceeds from the facility to support the development and commercialization of new products and other near term growth initiatives. The credit facility consists of a term loan of up to $20.0 million, and a $10.0 million revolving line of credit to be used for the purchase of capital equipment to expand laboratory capacity and to fund working capital requirements, accounts receivable and inventory as Sequenom CMM prepares to commercialize and launch new laboratory developed tests.