credit facility

The company amended and restated an existing senior revolving credit facility in the principal amount of $1.0 billion with the ability to increase it by up to $350 million. 

Castle will use the proceeds to accelerate marketing and new product development related to its molecular prognostic tests for patients with underserved cancers.

The infectious disease diagnostics firm will initially receive $40 million from CRG, most of which will go towards paying down existing debt.

The company borrowed $205 million in revolving loans from the credit facility, which matures on December 23, 2021.

The firm did not disclose how it intended to use the $8 million, but said that it would provide temporary working capital.