Evolv Technologies Holdings Inc. $(EVLV)$ has announced a new $75 million credit facility agreement with MidCap Financial. The facility consists of a $60 million tranched term loan, with $30 million drawn at close and an additional $30 million available at the company's discretion over the next two years, and a $15 million undrawn revolving credit facility. Both facilities have a five-year maturity with an annual interest rate of SOFR plus 5.25%. The financing aims to support Evolv's growth and meet the increasing demand for its subscription sales model. Houlihan Lokey served as the financial advisor for the transaction. The proceeds will be used for general corporate purposes, enhancing the company's revenue visibility and customer relationships.
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