MELBOURNE, Florida, May 29, 2018 – (Investorideas.com Newswire) Nxt-ID,
Inc. (NASDAQ: NXTD) (the “Company”) today announced the closing of a new $16 million
senior secured term loan due 2023 (the “Term Loan”) through Sagard Credit
Partners LP (“SCP”). The Company will use the proceeds from the Term Loan
to refinance its existing revolving loan facility and to pay for accrued
interest and costs associated with the refinancing. In addition, the Term Loan
proceeds will also provide ongoing working capital, funds for future capital
expenditures, and capital for general corporate purposes.
Inc. (NASDAQ: NXTD) (the “Company”) today announced the closing of a new $16 million
senior secured term loan due 2023 (the “Term Loan”) through Sagard Credit
Partners LP (“SCP”). The Company will use the proceeds from the Term Loan
to refinance its existing revolving loan facility and to pay for accrued
interest and costs associated with the refinancing. In addition, the Term Loan
proceeds will also provide ongoing working capital, funds for future capital
expenditures, and capital for general corporate purposes.
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