Augmedix extends loan facility and finalizes credit line

Healthcare technology company, Augmedix (NASDAQ:AUGX) amends its existing senior secured term loan facility with Silicon Valley Bank, a division of First Citizens Bank, which may extend the interest only period by as long as 18 months from January 2024 to July 2025.
The company also finalised terms on an equity line of credit with Redmile Group.
Combined with the $12M of new equity from HCA Healthcare and Redmile announced in April 2023, these actions bolster the company’s financial strength and liquidity.
The equity line of credit with Redmile Group is expected to provide Augmedix (AUGX), at solely the company’s option, the backstop to raise up to $5M at $1.60 per share, with access to this facility for ~ H2 2024.