Castle Biosciences (CSTL) has shared an announcement.
Castle Biosciences, Inc. secured a $10 million loan from Silicon Valley Bank to develop their future corporate headquarters and support general corporate needs, with an option for an additional $25 million term loan facility until March 2025. The loans are secured against most company assets, excluding intellectual property, and carry an interest rate pegged to the higher of WSJ Prime Rate plus 0.25% or 6% annually. Meanwhile, Mara G. Aspinall announced she will not seek re-election to the board, and Rodney Cotton was appointed as a Class II director, bringing extensive experience from Roche Diagnostics and other board roles, and will receive an initial stock grant and annual compensation as per company policy.
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