WARSAW, Ind., Aug. 05, 2024 (GLOBE NEWSWIRE) -- OrthoPediatrics Corp. ("OrthoPediatrics") (NASDAQ:KIDS), a company focused exclusively on advancing the field of pediatric orthopedics, today announced it has signed a private financing arrangement with Braidwell LP consisting of a term loan and private placement of convertible notes that will provide up to $100 million of capital. The financing is expected to fund on or about August 12, 2024. OrthoPediatrics' COO & CFO, Fred Hite, commented, "This financing strengthens our balance sheet at a more attractive cost of capital. This capital also provides additional flexibility to execute our strategic growth initiatives where one of our top priorities is to be aggressive with OPSB clinic expansion at the remaining children's hospitals across the country. We expect our current liquidity position will enable us to achieve cashflow breakeven and we appreciate Braidwell who is a great strategic partner that is invested in our future and growth strategy." "We are excited to strengthen our partnership with OrthoPediatrics and to continue supporting their advancement of pediatric orthopedics," said Kaila Krum, Partner at Braidwell. "The company has established itself as a market leader with an experienced team and an expanding portfolio of differentiated technologies. We are confident they will further demonstrate the value of their comprehensive approach that covers the continuum of care while achieving our shared goal of helping more kids." Terms of the financing include a $50 million term loan and $50 million of convertible notes. The term loan consists of an initial term loan of $25 million and access to a delayed draw term loan facility for an additional $25 million, subject to certain terms and conditions. The interest rate on the term loan ...