Danimer Scientific Announces $20M Asset-Based Revolving Credit Facility
Portfolio Pulse from Benzinga Newsdesk
Danimer Scientific has secured a $20M asset-based revolving credit facility, with an option to increase the commitment by an additional $5 million. The facility matures on April 19, 2027, but can mature earlier if certain events occur.
April 22, 2024 | 12:40 pm
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Danimer Scientific's new $20M credit facility, with an option for an additional $5M, matures in 2027 but has conditions for earlier maturity.
The new credit facility provides Danimer Scientific with financial flexibility and potential for growth, which could positively impact investor sentiment and the stock price in the short term. The option to increase the facility by $5M further enhances this flexibility. However, the conditions for earlier maturity should be monitored as they could introduce financial risk.
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