Nautilus, Inc. Announces A New $70,000,000 Credit Facility Comprised of a $55,000,000 Asset-Based Revolver and a $15,000,000 Term Loan Provided by Wells Fargo
Nautilus, Inc. (NLS)
Last nautilus, inc. earnings: 2/24 04:05 pm
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Source: Business Wire
New five-year credit facility expected to provide significant incremental liquidity and financial flexibility through January 31, 2025 VANCOUVER, Wash.--(BUSINESS WIRE)--Nautilus, Inc. (NYSE:NLS) today announced the closing of a new five-year $70,000,000 Senior Secured Credit Facility (“the Credit Facility”), consisting of a new $55,000,000 asset-based revolver and a $15,000,000 term loan with Wells Fargo Bank, NA (“Wells Fargo”). Nautilus, Inc. will use proceeds from the Credit Facility to refinance the existing $40,000,000 asset-based facility, pay transaction expenses, and for general corporate purposes.Jim Barr, Chief Executive Officer, stated “Our new Credit Facility provides us with additional financial flexibility to capitalize on the strength of our brand portfolio and position us for sustainable profitable growth as a global technology-driven fitness company. Investing in our strategic initiatives, digital platform, connected fitness products, go-to-market capabilities and
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