Lowers Interest Costs and Upsizes Availability with New Credit Facility
Sezzle Inc. (SEZL)
Company Research
Source: GlobeNewswire
Minneapolis, MN, April 22, 2024 (GLOBE NEWSWIRE) -- Sezzle Inc. (NASDAQ:SEZL) (Sezzle or Company) // Purpose-driven digital payment platform, is pleased to announce its new $150 million receivables funding facility secured with an affiliate of Bastion Management II LLC (Bastion). Bastion will act as the Administrative Agent for the lenders. The new facility supersedes the previous $100 million facility established in October 2022 with Bastion and affiliates. In addition to increasing the size of the facility, the new facility will significantly lower the Company’s borrowing costs. The new facility will have an interest rate of SOFR (Secured Overnight Financing Rate) plus 6.75% compared to the previous facility’s rate of SOFR plus 11.50%. The additional funding will bolster the Company’s ongoing growth in the United States and Canadian markets, providing the necessary resources to scale operations and pursue new strategic initiatives. "We're thrilled to extend our lending part
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SEZL
News
- Sezzle Reports First-Quarter 2024 ResultsGlobeNewswire
- Sezzle BNPL Encourages Financial Responsibility by Gamifying On-Time PaymentsGlobeNewswire
- Sezzle to Participate in Upcoming Investor ConferencesGlobeNewswire
- Sezzle to Announce First Quarter 2024 ResultsGlobeNewswire
- Sezzle Claims Spot as the Most Popular BNPL in CanadaGlobeNewswire
SEZL
Sec Filings
- 5/9/24 - Form 10-Q
- 5/8/24 - Form 8-K
- 5/6/24 - Form 4
- SEZL's page on the SEC website