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Stockreport

Summer Infant Closes on New $77.5 Million Financing to Fuel Growth Initiatives

Summer Infant, Inc (SUMR)  More Company Research Source: GlobeNewswire
Last summer infant, inc earnings: 10/31 04:15 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.summerinfant.com/home/default.aspx
PDF WOONSOCKET, R.I., June 28, 2018 (GLOBE NEWSWIRE) -- Summer Infant, Inc. ("Summer Infant" or the "Company") (NASDAQ:SUMR), a global leader in premium infant and juvenile products, today announced that it has completed closings on a $60.0 million asset-based revolving credit facility with Bank of America, N.A. (BofA) and a $17.5 million term loan with Pathlight Capital LLC (together, the “Credit Facility”). The fully committed Credit Facility provides incremental liquidity and more flexible covenants compared to the Company’s existing agreements. “Our new Credit Facility provides us with the financial flexibility needed to capitalize on the increasing demand for our new products, build traction in key distribution channels, and facilitate the execution of our long term growth strategy,” said Mark Messner, Chief Executive Officer of Summer Infant. We are gratified that our financing partners in Bank of America and Pathlight Capital, both very familiar with the consumer products and re [Read more]

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