(MENAFN- ACCESSWIRE) MARINA DEL REY, CA / ACCESSWIRE / January 12, 2024 / Raven Energies has just received enough working capital from Red-Syndicate Finance as a term loan. With over two decades of experience in the energy industry, Raven Energies has consistently soared to overtake the market.
"We pride ourselves on delivering reliable energy solutions and maintaining a strong track record in the industry, pleased to announce our recent expansion across all 50 states. To support our growth, we have partnered with Red-Syndicate, a leading American Private Lender specialized in ensuring financial needs are met with their expertise and resources. Red-Syndicate boasts a team of professionals with a collective experience of over 30 years in the industry, their partnership enables us to continue delivering top-quality products and services to our valued customers, and we are confident in our ability to further enhance our operations and services. We are committed to maintaining our position as a leader in the energy sector while constantly striving for excellence." Said Mrs. Dyer, Head of Operations.
"The Term Loan, which was arranged by my team (Red-Syndicate Finance LLC), holds an annual interest rate of 12.4 percent. This loan is secured by the Company's assets and backed by collateral protection insured in the States. Following the payment of customary fees and expenses associated with the transaction, Raven Energies has received proceeds of 130 million dollars, out of this amount, 18.3 million dollars will be held in a restricted reserve account for future interest payments. The remaining funds amount to a net increase of 111.7 million dollars in liquidity, which will be utilized to support general corporate purposes. It is important to note that the Term Loan includes a minimum liquidity requirement, which will be terminated once the necessary consents are obtained for one of the Company's subsidiaries to become a guarantor under the Term Loan. We expect to obtain these consents within approximately 90 days. Additionally, as part of the Term Loan agreement, Raven Energies has issued a warrant to Red-Syndicate Finance LLC. This warrant allows us to purchase 787,400 shares of the Company's Class A common stock at an exercise price of $6.35 per share, subject to customary adjustments, at any time during the Ten-year exercise period." added Dakota A. Malone, CEO of Red-Syndicate Finance LLC.
Contact Information.
Red-Syndicate Finance LLC.
Dakota A. Malone
4333 Admiralty Way, Marina Del Rey, CA 90292
(424) 209-9932
[email protected]
[email protected]
SOURCE: Red-Syndicate Finance LLC
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