Geospace Technologies Secures $25 Million Revolving Credit Facility From Amerisource Funding
Bitget2026/11/03 14:09- Geospace Technologies entered a three-year, $25 million revolving credit agreement with Amerisource Funding on October 29, 2026, subject to a borrowing base.
- Borrowings carry interest at the prime rate plus 3.5% annually, secured by substantially all borrower assets except certain excluded property.
- The facility refinanced $7.5 million outstanding under the Woodforest credit agreement, which was terminated without material early termination penalties.
- Fees include a 1% annual commitment fee, a 0.25% non-usage fee and early termination charges up to 3% of the total facility.
- The agreement requires minimum tangible net worth of $65 million; defaults may trigger accelerated repayment and an 18% annual interest rate.
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