http://finance.yahoo.com/news/sunshine-heart-inc-secures-10-10300...

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Sunshine Heart, Inc. Secures Up to $10 Million in Growth Capital From Silicon Valley Bank
Sunshine Heart, Inc. 20 minutes ago GlobeNewswire

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EDEN PRAIRIE, Minn., Feb. 19, 2015 (GLOBE NEWSWIRE) -- Sunshine Heart, Inc. (SSH) (the "Company" or "Sunshine Heart") today announced that it has entered into a loan and security agreement with Silicon Valley Bank to provide up to $10.0 million in growth capital.
"It is a pleasure to form an alliance with Silicon Valley Bank which is well established in the healthcare sector as a leading financial partner to emerging companies. Today's transaction is an important milestone for us as the arrangement in combination with the use of our ATM facility provides the Company with sufficient capital through 2016 while preserving shareholder equity via this minimally dilutive structure," commented David Rosa, President and Chief Executive Officer of Sunshine Heart.
On February 18, 2015, the Company entered into a loan and security agreement (the "Loan Agreement") with Silicon Valley Bank for a total loan amount of up to $10.0 million. The loan will mature on December 1, 2017. Proceeds will be used for general corporate and working capital purposes.
"Increasing our clients' probability of success is our primary objective in working with some of the most innovative companies in the world, like Sunshine Heart," said Ben Johnson of Silicon Valley Bank. "Their C-Pulse Heart Assist System has the potential to make an incredible difference for patients, and we're glad to be supporting the development of this exciting technology."
Additional details regarding the Loan Agreement are included in a Current Report on Form 8-K filed on February 19, 2015 by Sunshine Heart with the Securities and Exchange Commission.
Honigman Miller Schwartz and Cohn LLP served as legal advisor to Sunshine Heart in connection with the Loan Agreement.
About Sunshine(R) Heart
Sunshine Heart, Inc. (SSH) is an early-stage medical device company focused on developing, manufacturing and commercializing the C-Pulse System for treatment of Class III and ambulatory Class IV heart failure. Sunshine Heart has completed an approved U.S. Food and Drug Administration (FDA) feasibility clinical study of the C-Pulse System and presented the results in November 2011. In March 2012, the FDA notified the Company that it could move forward with an investigational device exemption (IDE) application. Sunshine Heart received unconditional approval from the FDA in November 2012 to initiate its pivotal study. In July 2012, Sunshine Heart received CE Mark approval for its C-Pulse System in Europe. Sunshine Heart is a Delaware corporation headquartered in Minneapolis with wholly-owned subsidiaries in Australia and Ireland. The Company has been listed on the NASDAQ Capital Market since February 2012.