Singing machine company secures $15.0 million senior secured financing with fifth third bank.

Fort lauderdale, fl, oct. 18, 2022 (globe newswire) -- the singing machine company (“singing machine” or the “company”) (nasdaq: mics) has entered into an agreement for senior secured financing with fifth third bank, n.a. (“fifth third”). under the agreement (“fifth third facility”), fifth third will provide the company with up to $15.0 million dollars in asset-based lending during the company's peak shipping season and reduce to $7.5 million from january 1 to june 30.
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