Newage, inc. announces new credit facility

Salt lake city, march 14, 2022 (globe newswire) -- newage, inc. (nasdaq: nbev), a direct selling company with a primary focus on healthy products, today announced it has entered into a new $12.0 million revolving line of credit agreement (“loc”) with east west bank which matures in march 2024. newage used this facility to repay in full its existing outstanding loan balance of $10.6 million under its 8.0% senior secured note with jgb management. the remaining availability on the new facility will be used for general working capital purposes. the new loc bears interest at prime plus 1.75%, and is interest-only until march 2024.
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