Irwin Naturals Inc. IWINF IWIN (FRA:97X) has secured a credit facility as of February 1, 2023 with its existing commercial lender for up to $60 million with $40 million of it currently committed. The rate shall be variable based on the margins of the credit facilities. Half of the facility is in place until August 2024, with a maturity date of February 2028, while half of facility is designed to support day-to-day operations and is in place until February 2028.
Klee Irwin, CEO of Irwin Naturals, stated, “Commercial banks are less speculative and more practical than other lenders. Accordingly, low interest line of credit from our commercial bank is a vote of confidence from conservative business thinkers. And this is not just a vote of confidence in our business model. It is an endorsement of management’s ability to execute and continue leading within the mental health care sector.”
Adam Berk, president of Irwin Naturals, stated: “This financing is transformational for the company. It accelerates Irwin Naturals’ ability to expand our national psychedelic mental health clinic footprint and supercharge the velocity of closings of deals in a large M&A pipeline. We believe low-cost debt financing at this stage of our expansion will be optimally accretive and minimally dilutive for our shareholders.”
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