Abundia Global Impact secures $10 million credit facility from Bower Family Holdings
AGIG•Use of proceeds and debt repayment
The company said the proceeds are earmarked to repay the Senior Secured Convertible Promissory Note due June 2027, removing the remaining obligations under that note.
Any remaining capacity will be available for working capital, and the funds may also support a stock buyback program, pending board authorization.
Credit facility from largest shareholder
Abundia Global Impact Group secured a $10 million credit facility from its largest shareholder, Bower Family Holdings.
The facility has a two-year term with 10% annual interest, and the initial draw is set at $6.5 million.
