PARTS iD Announces New Financing with The Lind Partners And Co-Investment by Certain Company Insiders
Portfolio Pulse from Benzinga Newsdesk
PARTS iD, Inc. (NYSE:ID) has announced two new funding agreements that will provide the company with $7.0 million in immediate proceeds. The first agreement is a $3.75 million investment by Lind Global Partners II, LP, a fund managed by The Lind Partners. Two company insiders, including CEO Lev Peker, and one external investor co-invested an additional $3.25 million. The funds will be used to repay and retire outstanding debt owed to JGB Capital and for general working capital needs.
July 17, 2023 | 11:35 am
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PARTS iD, Inc. has secured $7.0 million in funding, which will be used to repay outstanding debt and for working capital. This could improve the company's financial stability and potentially its stock price.
The new funding agreements will provide PARTS iD, Inc. with immediate proceeds, which will be used to repay and retire outstanding debt. This could improve the company's financial stability, which is often a positive signal to investors and could potentially lead to an increase in the company's stock price.
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