Written by Dante Uzel on 17 July 2024 12:41
Enthusiast Gaming announced today securing a $20m non-revolving term loan for a four-year period. This financing was secured through a credit agreement with lenders led by Beedie Investments.
The company has not yet disclosed specific plans for using these funds, considering its diverse portfolio encompassing websites, YouTube channels, content creators, esports teams, and brand partnerships.
More:Call Of Duty: Black Ops 6 Multiplayer Open Beta Dates Announced
The Term Loan carries a fixed interest rate of 14.0% per annum, calculated and paid monthly. Enthusiast Gaming noted in its announcement that the loan will be guaranteed by select Canadian and US subsidiaries and secured with a second-ranking security interest.
Adrian Montgomery, Interim CEO & Chairman of Enthusiast Gaming stated “This strategic investment significantly bolsters our financial position, providing $20 million of additional liquidity, which will enable us to accelerate our vision of uniting gaming enthusiasts globally and delivering exceptional value to our partners and communities,” said . “We are delighted to partner with Beedie Capital, whose reputation and successful history of supporting high-growth companies is unmatched.”
Tags: Enthusiast Gaming
Related news
