Hansen Medical to Replace Current Debt Facility With New $33 Million, Interest-Only Debt Facility Through 2017

Hansen Medical to Replace Current Debt Facility With New $33 Million, Interest-Only Debt Facility Through 2017 
Will Provide Additional Liquidity of Nearly $25 Million Over Next 30
Months Compared to Current Debt Facility; Upon Closing and Funding of
This New Debt Agreement, the Company Will Withdraw Its ATM Facility
Which Was Not Drawn on or Used 
MOUNTAIN VIEW, CA -- (Marketwired) -- 07/10/13 --  Hansen Medical,
Inc. (NASDAQ: HNSN), a global leader in intravascular robotics, today
announced that it has signed a $33 million, long-term, debt agreement
with White Oak Global Advisors, LLC. The new facility will require
quarterly interest-only payments through December 30, 2017, at which
time the Company will also pay the principal balance. The proceeds
from this new facility will be used to refinance the Company's
current $30 million debt facility, and related fees. The existing
facility will then be retired in its entirety.  
Under the existing facility Hansen Medical would be required to begin
making principal payments starting in August of this year through the
end of the agreement in January of 2016. With this new agreement the
Company will make interest-only payments on the debt through 2017
thereby providing a net liquidity enhancement of approximately $25
million over the next 30 months compared to the current debt
facility. The new facility is expected to close and fund on or before
July 31, 2013. 
"We are pleased to have secured this long-term, interest-only
facility providing us with a significant liquidity enhancement over
the next 30 months", said Peter J. Mariani, Hansen Medical's Chief
Financial Officer. "This new agreement will also provide the Company
with a foundation of long-term capital as we continue to
commercialize our Magellan(TM) Robotic System, drive further adoption
of our Sensei X(TM) Robotic System, and strengthen operations across
the Company." 
The new debt facility requires quarterly cash interest payments based
on an annual interest rate of 11.0%, plus additional interest of 3.0%
per annum which will accrue to the loan balance quarterly and become
payable, along with all principal, at the end of the loan term on
December 30, 2017. The agreement is a senior secured facility, and
maintains a similar covenant structure as the current debt agreement.
No warrants were issued as part of the new debt facility. Further
information with respect to the new debt facility is contained in a
Current Report on Form 8-K to be filed today by Hansen Medical with
the Securities and Exchange Commission. 
The Company also announced that upon the closing of the new debt
facility it intends to terminate its "At-The-Market" (ATM) equity
facility that was put in place in March of this year. No shares were
sold pursuant to this ATM facility. 
The DiBari Group acted as debt advisor to Hansen Medical for the new
debt agreement.  
About Hansen Medical, Inc. 
 Hansen Medical, Inc., based in Mountain
View, California, is the global leader in intravascular robotics,
developing products and technology designed to enable the accurate
positioning, manipulation and control of catheters and catheter-based
technologies. The Company's Magellan(TM) Robotic System, Magellan
Robotic Catheter and related accessories, which are intended to
facilitate navigation to anatomical targets in the peripheral
vasculature and subsequently provide a conduit for manual placement
of therapeutic devices, have undergone both CE marking and 510(k)
clearance and are commercially available in the European Union, and
the U.S. In the European Union, the Company's Sensei(R) X Robotic
Catheter System, Artisan Control Catheter and Artisan Extend(R)
Control Catheter are cleared for use during electrophysiology (EP)
procedures, such as guiding catheters in the treatment of atrial
fibrillation (AF), and the Lynx(R) Robotic Ablation Catheter is
cleared for the treatment of AF. This robotic catheter system is
compatible with fluoroscopy, ultrasound, 3D surface map and patient
electrocardiogram data. In the U.S. the Company's Sensei X Robotic
Catheter System and Artisan Control Catheter are cleared by the U.S.
Food and Drug Administration for manipulation and control of certain
mapping catheters in EP procedures. In the United States, the Sensei
System is not approved for use in guiding ablation procedures; this
use remains experimental. The U.S. product labeling therefore
provides that the safety and effectiveness of the Sensei X System and
Artisan Control Catheter for use with cardiac ablation catheters in
the treatment of cardiac arrhythmias, including AF, have not been
established. Additional information can be found at
www.hansenmedical.com.  
White Oak Global Advisors, LLC
 Based in San Francisco, White Oak is
an SEC-registered specialty finance company that offers customized
lending products and services to corporate clients and investment
management services to institutional clients. For more information,
visit www.whiteoaksf.com.  
The DiBari Group, LLC
 The DiBari Group is a financial advisory and
consulting firm dedicated to procuring debt capital for both public
and private companies in various stages of development. The firm has
supported high growth companies for over 11 years with an emphasis in
technology, healthcare and life sciences. For more information visit
www.dibarigroup.com. 
Forward-Looking Statements
 This press release contains
forward-looking statements regarding, among other things, statements
relating to goals, plans, objectives, milestones and future events.
All statements, other than statements of historical fact, are
statements that could be deemed forward-looking statements, including
statements containing the words "plan," "expects," "potential,"
"believes," "goal," "estimate," "anticipates," and similar words.
These statements are based on the current estimates and assumptions
of our management as of the date of this press release and are
subject to risks, uncertainties, changes in circumstances and other
factors that may cause actual results to differ materially from the
information expressed or implied by forward-looking statements made
in this press release. Examples of such statements include statements
about the timing of the expected closing and funding, and liquidity
benefits, of the new debt facility. Important factors that could
cause actual results to differ materially from those indicated by
such forward-looking statements include, among others: failing to
satisfy the closing conditions for the new debt facility, including,
without limitation, the lenders' satisfactory completion of their due
diligence review of us, and the failure to close the new debt
financing on a timely basis or at all; safety, engineering and
regulatory challenges related to our products; our ability to manage
expenses and cash flow and obtain additional financing; and other
risks more fully described in the "Risk Factors" section of our
Quarterly Report on Form 10-Q for the quarter ended March 31, 2013
filed with the SEC on May 10, 2013 and the risks discussed in our
other reports filed with the SEC. Given these uncertainties, you
should not place undue reliance on the forward-looking statements in
this press release. We undertake no obligation to revise or update
information herein to reflect events or circumstances in the future,
even if new information becomes available.  
Hansen Medical, Heart Design (Logo), Hansen Medical (with Heart
Design), Sensei and Artisan are registered trademarks, and Magellan
is a trademarks of Hansen Medical, Inc. in the United States and
other countries. 
Investor Contacts:
Peter J. Mariani
Chief Financial Officer
Hansen Medical, Inc.
650.404.5800 
FTI Consulting, Inc.
Brian Ritchie
212.850.5683
brian.ritchie@fticonsulting.com 
John Capodanno
212.850.5705
john.capodanno@fticonsulting.com 
 
 
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