Luminary Micro Closes $8 Million Credit and Growth Capital with Silicon Valley Bank

AUSTIN, TX, USA – February 3, 2009 – Luminary Micro, creators of the award-winning Stellaris® family of ARM® Cortex™-M3-based microcontrollers (MCUs), announced that it has entered into a new credit facility with Silicon Valley Bank. The new credit facility provides $5 Million USD for a line of credit, and $3 Million USD for growth capital. The purpose of the revolving line of credit is for general working capital needs. The purpose of the growth capital is to help finance the company’s continued growth. The company is very pleased to have this resource at its disposal.

“Silicon Valley Bank is well known for partnering with innovative growth technology companies, and as we grow our sales and operations, we continue to view our relationship with Silicon Valley Bank as an integral part of our growth,” said Stuart Sorensen, Vice President of Finance at Luminary Micro. “Being one of the few semiconductor companies to experience continued growth in this difficult economic climate, we believe that adding a line of credit and growth capital is beneficial for our ongoing expansion plans.”

Doug Mangum, Managing Director at Silicon Valley Bank, said “Luminary Micro requires a financial services partner experienced in the semiconductor sector to help the company optimize its capital as it grows. It has been exciting to watch and help Luminary Micro grow, and we are pleased to continue working with Luminary Micro as it expands its operations in 2009."

About Luminary Micro and Stellaris

Luminary Micro, Inc. designs, markets and sells ARM Cortex-M3-based microcontrollers (MCUs). Austin, Texas-based Luminary Micro is the lead partner for the Cortex-M3 processor, delivering the world’s first silicon implementation of the Cortex-M3 processor. Luminary Micro’s award-winning Stellaris® mixed-signal microcontrollers contain specialized capabilities for applications in energy, security, and connectivity markets. With the world’s largest selection of ARM-based microcontrollers, Luminary Micro’s Stellaris family allows for standardization that eliminates future architectural upgrades or software tools changes.

Stellaris and the Luminary Micro logo are registered trademarks of Luminary Micro, Inc. or its subsidiaries in the United States and other countries. All other brands or product names are the property of their respective holders.

Luminary Micro Company Contact:
Jean Anne Booth
CMO
+1.512.917.3088 mobile
+1.512.279.8801 office
This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

About Silicon Valley Bank

Silicon Valley Bank is the premier commercial bank for emerging, growth and mature companies in the technology, life science, venture capital/private equity and premium wine industries. SVB provides a comprehensive suite of financing solutions, treasury management, corporate investment and international banking services to its clients worldwide. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients’ success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through 27 U.S. offices and international operations in China, India, Israel and the United Kingdom. Silicon Valley Bank is a member of global financial services firm SVB Financial Group, with SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services. More information on the company can be found at www.svb.com.
Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve. SVB Financial Group is also a member of the Federal Reserve.