Here are five things to know:
1. The company has used a portion of the proceeds to recapitalize its existing debt obligations, including repaying a $1.5 million credit facility with Guaranty Bank and Trust. The bank waived all outstanding defaults under the credit facility and extended the maturity date of the loan to 2023.
2. Guaranty Bank also agreed to renew Birner Dental’s $2 million revolving credit facility.
3. Birner Dental, a business services provider of Perfect Teeth dental practices, plans to capitalize on business opportunities such as recruiting dentists, implementing information technologies and increasing dentist productivity.
4. Two representatives from Palm Investors joined Birner’s board: Joshua Horowitz and Bradley Tirpak. They replaced Brooke O’Neil and Birner CFO Dennis Genty, who resigned from the board.
5. As of Sept. 30, Birner managed 68 dental offices, including 35 acquired centers and 33 de novos.
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