06:58 AM EDT, 08/12/2025 (MT Newswires) -- Rapid Micro Biosystems ( RPID ) said Tuesday it signed a five-year, $45 million term loan facility with Trinity Capital ( TRIN ). (TRIN)

According to a company statement, the loan will be used for general corporate purposes, which might include support for the commercial expansion of its Growth Direct system.

The facility includes four tranches, with the first $20 million tranche available when the agreement is finalized. Availability of the second and third tranches is subject to certain milestones, and the final tranche of $5 million is at the lender's discretion.

Interest on the loan facility will be at a floating rate, initially at 11.5% per annum, the company said.