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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)一家為美國大麻公司提供資本支出和設備融資解決方案的專業金融公司，與李約瑟銀行簽訂了2400萬美元的新信貸額度承諾2000萬美元並擔任行政代理。XS Financials在一家FDIC保險銀行的現有400萬美元信貸額度將被註銷，同一家銀行將參與400萬美元的新信貸安排。此外，XSF完全退休其1500萬美元的信貸額度加林頓集團與這項信貸安排的關閉同時進行。
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.
這項信貸安排的期限為兩年，2024年8月到期。在信用額度下發放的貸款將按年利率計息，利率等於華爾街日報最優惠利率加1%(1.0%)，下限為6%(6%)，並且可以隨時預付，不受處罰。
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打算利用貸款收益，加上手頭的現金，為新老客户提供額外的資本支出和設備租賃資金。
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."
大衞·基維茨XS Financial的首席執行官表示：“我們很高興與Needham Bank合作，Needham Bank正在為美國大麻市場建立主要的銀行平臺之一。這一信貸安排為XS Financial提供了更大的財務靈活性，併為我們的長期成功奠定了基礎。我們能夠以優惠的價格和條款完成與Needham Bank的信貸安排，這表明我們的財務實力以及我們支持的高質量客户數量不斷增加，其中包括我們行業中幾家最大的公司。此外，隨着該行業的許多資本來源在短期內出現融資收縮，我們很高興能繼續為我們的目標借款人提供大規模資金，用於他們的關鍵擴張項目。“
Photo: Benzinga; Sources: courtesy of Kindel Media via Pexels
圖片來源：Pexels提供的Kindel Media
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Ayr Wellness宣佈從XS Financial獲得3740萬美元的升級資本支出融資
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moomoo是Moomoo Technologies Inc.公司提供的金融資訊和交易應用程式。
在美國，moomoo上的投資產品和服務由Moomoo Financial Inc.提供，一家受美國證券交易委員會（SEC）監管的持牌主體。 Moomoo Financial Inc.是金融業監管局（FINRA）和證券投資者保護公司（SIPC）的成員。
在新加坡，moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供，該公司受新加坡金融管理局（MAS）監管(牌照號碼︰CMS101000) ，持有資本市場服務牌照 (CMS) ，持有財務顧問豁免（Exempt Financial Adviser）資質。本內容未經新加坡金融管理局的審查。
在澳大利亞，moomoo上的金融產品和服務是通過Futu Securities (Australia) Ltd提供，該公司是受澳大利亞證券和投資委員會(ASIC)監管的澳大利亞金融服務許可機構（AFSL No. 224663）。請閱讀並理解我們的《金融服務指南》、《條款與條件》、《隱私政策》和其他披露文件，這些文件可在我們的網站 https://www.moomoo.com/au中獲取。
在加拿大，透過moomoo應用程式提供的僅限訂單執行的券商服務由Moomoo Financial Canada Inc.提供，並受加拿大投資監管機構（CIRO）監管。
在馬來西亞，moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供，該公司受馬來西亞證券監督委員會（SC）監管(牌照號碼︰eCMSL/A0397/2024) ，持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
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., 是關聯公司。
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