iRhythm Technologies, Inc. announced it has amended its existing debt facility with Silicon Valley Bank. The agreement improves upon the pricing and terms of iRhythm's existing credit facility. The Amended Credit Facility is non-dilutive and consists of a term loan of up to $75 million and a revolving credit facility of up to $25 million.

Thirty-five million dollars of the Term Loan has been drawn down at closing to pay in full the approximately $18.5 million outstanding on the term loan under the Existing Credit Facility and to fund working capital. The remaining $40 million of the Term Loan will remain available for iRhythm to draw through December 31, 2023, subject to applicable conditions. The Revolving Credit Line availability is subject to a borrowing base comprised of the Company's accounts receivable.

The Amended Credit Facility will mature on March 1, 2027.