Item 1.01. Entry into a Material Definitive Agreement.
Effective as of December 31, 2008, Luna Innovations Incorporated and its
subsidiary, Luna Technologies, Inc., entered into a First Amendment to Loan and
Security Agreement with Silicon Valley Bank (the "Amendment").
The Amendment adjusts interest rates under an existing revolving line of credit
and term loan with Silicon Valley Bank (the "Credit Facility"), revises certain
minimum EBITDA covenants under the Credit Facility and adds intellectual
property to the assets securing the Credit Facility. The new interest rate on
the revolving line of credit is prime plus 1%, with a minimum rate of 5%. The
new interest rate on the term loan is prime plus 1.5%, with a minimum rate of
5.5%.
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