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XS Financial Closes $24M Credit Line With Needham Bank
XS Financial Closes $24M Credit Line With Needham Bank
XS Financial Inc. (OTCQB:XSHLF) (CSE:XSF) a specialty finance company providing CAPEX and equipment financing solutions to cannabis companies in the United States, has entered into a new $24 million line of credit with Needham Bank committing $20 million and acting as the administrative agent. XS Financials' existing $4 million line of credit with an FDIC-insured bank will be retired, and the same bank will participate $4 million in the new credit facility. In addition, XSF fully retired its $15 million line of credit with the Garrington Group concurrently with the closing of this credit facility.
The credit facility has a term of two years, expiring August 2024. Loans made under the line of credit will bear interest at an annual rate equal to the Wall Street Journal Prime rate plus one percent (1.0%), with a floor of six percent (6%), and may be prepaid with no penalty at any time.
XS Financial intends to use loan proceeds, together with cash on hand, to fund additional CAPEX and equipment leases with new and existing customers.
David Kivitz, CEO of XS Financial stated: "We are pleased to be working with Needham Bank, who is building one of the premier banking platforms for the U.S. cannabis market. This credit facility provides XS Financial with greater financial flexibility and positions us for long-term success. Our ability to close this credit facility with Needham Bank with favorable pricing and terms speaks to our financial strength and the growing number of high-quality customers we support, including several of our industry's largest companies. Additionally, with many capital sources in the industry experiencing a near-term pullback in financing, we are thrilled to continue funding our target borrowers at scale for their critical expansion projects."
Photo: Benzinga; Sources: courtesy of Kindel Media via Pexels
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XS Financial Inc. (OTCQB:XSHLF) (CSE:XSF) a specialty finance company providing CAPEX and equipment financing solutions to cannabis companies in the United States, has entered into a new $24 million line of credit with Needham Bank committing $20 million and acting as the administrative agent. XS Financials' existing $4 million line of credit with an FDIC-insured bank will be retired, and the same bank will participate $4 million in the new credit facility. In addition, XSF fully retired its $15 million line of credit with the Garrington Group concurrently with the closing of this credit facility.
XS金融公司(OTCQB：XSHLF)(CSE：XSF)一家为美国大麻公司提供资本支出和设备融资解决方案的专业金融公司，与李约瑟银行签订了2400万美元的新信贷额度承诺2000万美元并担任行政代理。XS Financials在一家FDIC保险银行的现有400万美元信贷额度将被注销，同一家银行将参与400万美元的新信贷安排。此外，XSF完全退休其1500万美元的信贷额度加林顿集团与这项信贷安排的关闭同时进行。
The credit facility has a term of two years, expiring August 2024. Loans made under the line of credit will bear interest at an annual rate equal to the Wall Street Journal Prime rate plus one percent (1.0%), with a floor of six percent (6%), and may be prepaid with no penalty at any time.
这项信贷安排的期限为两年，2024年8月到期。在信用额度下发放的贷款将按年利率计息，利率等于华尔街日报最优惠利率加1%(1.0%)，下限为6%(6%)，并且可以随时预付，不受处罚。
XS Financial intends to use loan proceeds, together with cash on hand, to fund additional CAPEX and equipment leases with new and existing customers.
XS Financial打算利用贷款收益，加上手头的现金，为新老客户提供额外的资本支出和设备租赁资金。
David Kivitz, CEO of XS Financial stated: "We are pleased to be working with Needham Bank, who is building one of the premier banking platforms for the U.S. cannabis market. This credit facility provides XS Financial with greater financial flexibility and positions us for long-term success. Our ability to close this credit facility with Needham Bank with favorable pricing and terms speaks to our financial strength and the growing number of high-quality customers we support, including several of our industry's largest companies. Additionally, with many capital sources in the industry experiencing a near-term pullback in financing, we are thrilled to continue funding our target borrowers at scale for their critical expansion projects."
大卫·基维茨XS Financial的首席执行官表示：“我们很高兴与Needham Bank合作，Needham Bank正在为美国大麻市场建立主要的银行平台之一。这一信贷安排为XS Financial提供了更大的财务灵活性，并为我们的长期成功奠定了基础。我们能够以优惠的价格和条款完成与Needham Bank的信贷安排，这表明我们的财务实力以及我们支持的高质量客户数量不断增加，其中包括我们行业中几家最大的公司。此外，随着该行业的许多资本来源在短期内出现融资收缩，我们很高兴能继续为我们的目标借款人提供大规模资金，用于他们的关键扩张项目。“
Photo: Benzinga; Sources: courtesy of Kindel Media via Pexels
图片来源：Pexels提供的Kindel Media
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国，moomoo上的投资产品和服务由Moomoo Financial Inc.提供，一家受美国证券交易委员会（SEC）监管的持牌主体。 Moomoo Financial Inc.是金融业监管局（FINRA）和证券投资者保护公司（SIPC）的成员。
在新加坡，moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供，该公司受新加坡金融管理局（MAS）监管(牌照号码︰CMS101000) ，持有资本市场服务牌照 (CMS) ，持有财务顾问豁免（Exempt Financial Adviser）资质。本内容未经新加坡金融管理局的审查。
在澳大利亚，moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供，该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构（AFSL No. 224663）。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件，这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大，通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供，并受加拿大投资监管机构（CIRO）监管。
在马来西亚，moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供，该公司受马来西亚证券监督委员会（SC）监管(牌照号码︰eCMSL/A0397/2024) ，持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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