Summer Infant Executes Commitments for New Financing to Fuel Growth Initiatives
Summer Infant, Inc. (SUMR)
Last summer infant, inc. earnings: 5/7 04:15 pm
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US:NASDAQ Investor Relations:
investor.summerinfant.com/home/default.aspx
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Source: GlobeNewswire
WOONSOCKET, R.I., May 30, 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 executed commitment letters for an amended and extended $60.0 million asset-based revolving credit facility with Bank of America, N.A. and a $17.5 million term loan with Pathlight Capital LLC (together, the “Credit Facility”). The fully committed Credit Facility is expected to close, subject to customary conditions, in June 2018 and will provide significant incremental liquidity compared to the Company’s existing agreements. “As we execute plans to streamline the Company, invigorate our channel strategy, and bring new products to market, we saw the need for greater financial flexibility and long-term growth capital – which this Credit Facility will ensure,” said Mark Messner, Chief Executive Officer. “We appreciate the continued support by Bank of America and are excited to partn
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