Collectors Universe, Inc. Obtains $15 Million Unsecured Line of Credit from California Bank & Trust
COLLECTORS UNIVERSE (CLCT)
US:NASDAQ Investor Relations:
investors.collectors.com/investor-relations
Company Research
Source: GlobeNewswire
NEWPORT BEACH, Calif., March 16, 2020 (GLOBE NEWSWIRE) -- Collectors Universe, Inc. (NASDAQ: CLCT), a leading provider of value-added authentication and grading services for high-value collectibles, today announced that it has entered into an amended and extended Loan Agreement with California Bank & Trust (“CBT”), which provides the Company with an unsecured increased line of credit of $15 million for two years through March 10, 2022. The terms of the increased line of credit are substantially the same as the original $10 million line of credit. Joseph Orlando, Collectors Universe’s Chief Executive Officer noted, “The increase in the line of credit to $15 million reflects the Company’s continued strong balance sheet and cash generation model which has enabled us to increase cash to $22.2 million at December 31, 2019 from $12.4 million at December 31, 2018 after the payment of about $6.3 million of dividend payments to our stockholders. The credit line agreement continues to be fle
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