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NEW YORK – HTG Molecular Diagnostics said on Thursday that it has entered into a $10 million senior term loan agreement with Silicon Valley Bank.

The Tucson, Arizona-based firm used the proceeds to pay off HTG's $7.0 million principal amount term loan with MidCap Financial and its $3.0 million principal amount subordinated convertible promissory note held by Qiagen North American Holdings.

The senior term loan is for 42 months, with interest only payments through June 30, 2021, in addition to six additional months under specific conditions.

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