Silicon Valley Bank Loan And Security Agreement

“This funding allows us to strengthen our financial position by expanding our cash flow track and continue to implement our reoriented business strategy as planned,” said Dr. Neal Walker, President and CEO of Aclaris. Aclaris believes that the proceeds of the loan, combined with existing means of payment, cash equivalents and marketable securities, will be sufficient to finance its operations until the first quarter of 2022. You understand and accept that you are solely responsible for the privacy and security of your usernames and passwords, as well as for all activities related to your online user profile. You should be especially careful when accessing your account from a public or shared computer, so that other users cannot view or save your password or other personal information. If your username and password are compromised or you are aware of unauthorized activities with your user`s information, you agree to notify your SVB or SVB relationship manager immediately. Welcome! This website is made available in accordance with these Terms of Use by SVB Financial Group, based at 3003 Tasman Drive, Santa Clara, California 95054 (“SVB”). As used in these Terms, the “Website” refers to the entire site, including all content, services, information and parts of this site. These conditions are a legal agreement and your use of this website is your consent to the terms and conditions and the SVB privacy statement that is included, which describes by reference the information we collect, how we use your data and with whom we share your data and how we protect your data.

If you do not accept these terms or the privacy policy, you cannot use this site. If you are working on an equity account sheet, you should consider having a conversation with a lender about Venture Debt. Risk debts are typically synchronized until closing, a few months after a new equity cycle. Increasing debt, when the business is inundated with cash, may seem counterintuitive, but in many cases the debt can be structured with an extended “drawing period” so that the loan does not need to be financed immediately.