MicroSeismic Lines Up Credit
Square 1 Bank will issue MicroSeismic a $2 million line of credit for general corporate purposes.
Peter Duncan, Ph.D., CEO of MicroSeismic commented: "While we believe that our existing working capital is sufficient to meet the Company's needs, with revenues on track to double for the second consecutive year, the working capital facility enhances our financial flexibility to execute our growth strategy."
"We are very pleased to have closed our new credit facility with MicroSeismic. We are very impressed with both the management team and the strategic plan in place, and we look forward to being a partner in the Company's future growth and profitability," said Tommy Deavenport, SVP Regional Manager, Square 1 Bank Texas Midwest.
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