Luna Innovations Announces $35 Million Credit Facility | New


ROANOKE, Va.–(BUSINESS WIRE)–June 28, 2022–

Luna Innovations Incorporated (NASDAQ: LUNA), a global leader in advanced fiber optic technology, today announced that it has closed a new five-year, $35 million credit facility. Debt is provided by PNC Bank, National Association (a subsidiary of PNC Financial Services Group, Inc.) (NYSE:PNC)), a leading provider of middle-market business credit across the country. The new agreement includes a $20 million term loan facility and a $15 million revolving credit facility.

The new agreement provides the Company with a term loan of $20 million, with an interest rate of SOFR plus 10 basis points, in addition to a margin ranging from 175 to 250 basis points based on a ratio of net leverage. The agreement also provides the Company with a revolving line of credit of up to $15 million, also with an interest rate of SOFR plus 10 basis points, in addition to a margin ranging from 175 to 250 basis points based on a net leverage ratio.

“We are excited to be working again and expanding our relationship with PNC,” said Scott Graeff, President and CEO. “We appreciate that PNC continues to demonstrate its support and confidence in Luna. Access to this additional capital gives us the financial flexibility to invest in future growth opportunities.

About Luna

Luna Innovations Incorporated ( is a leader in optical technology, providing unique capabilities in high-performance fiber optic-based test products for the telecommunications industry and fiber optic-based distributed sensing for a multitude of industries. Luna’s business model is designed to accelerate the process of bringing new and innovative technologies to market.

About PNC

PNC Financial Services Group, Inc. (NYSE: PNC) is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of banking services individuals and businesses, including a full range of loans. some products; specialized services for businesses and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For more information about PNC, visit

Forward-looking statements

Statements contained in this release that are not historical facts constitute “forward-looking statements” made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These statements include Luna’s expectation not to draw on the revolving credit facility. Management cautions the reader that these forward-looking statements are only predictions and are subject to a number of known and unknown risks and uncertainties, and that the actual results, performance and/or achievements of Luna may differ materially from the results, performance, and/or achievements expressed or implied by these forward-looking statements due to a number of factors. These factors include, but are not limited to, the technological and scientific challenges and risks and uncertainties set forth in Luna’s Form 10-Q for the three months ended March 31, 2022, and Luna’s other periodic reports and filings with the Securities and Exchange Commission (“SEC”). These documents are available on the SEC’s website at and on Luna’s website at Statements made in this release are based on information available to Luna as of the date of this release and Luna undertakes no obligation to update any forward-looking statements after the date of this release.

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CONTACT: Investor Contact:

Allison Woody

Luna Innovations Incorporated

Telephone: 540.769.8465

Email: [email protected]



SOURCE: Luna Innovations Incorporated

Copyright BusinessWire 2022.

PUBLISHED: 06/28/2022 08:30/DISC: 06/28/2022 08:32

Copyright BusinessWire 2022.


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