Business
Heritage Global Announces New Upsized $17 Million Credit Facility with C3bank
SAN DIEGO--(BUSINESS WIRE)-- Heritage Global Inc. (NASDAQ: HGBL) (“Heritage Global,” “HG” or “the Company”), an asset services company specializing in
About this update from Heritage Global Inc.
[{"type":"text","content":" SAN DIEGO--(BUSINESS WIRE)--\nHeritage Global Inc. (NASDAQ: HGBL) (“Heritage Global,” “HG” or “the Company”), an asset services company specializing in financial and industrial asset transactions, today announced an upsized $17 million credit facility with C3bank which includes the renewal of its existing $10 million line of credit as well as a new $7 million term loan.\n\n\nRoss Dove, CEO of Heritage Global, commented, “We are seeing strong growth across our business and this new credit agreement with C3bank increases our borrowing capacity and further supports our ability to continue to go after the opportunities we are seeing in the marketplace. C3bank has been an excellent lender for us, and we appreciate their partnership as we execute on our strategy and drive value for our shareholders.”\n\n\nAdam J. (A.J.) Moyer, CEO of C3bank, commented, “As we have grown our bank, we are proud of the success of the companies we partner with to help them achieve their business goals. Our relationship with Heritage Global is a great example of a good company and a good bank successfully complementing each another. We look forward to assisting Heritage Global as they continue to execute on their business strategy.”\n\n\nAbout Heritage Global Inc.\n\n\nHeritage Global Inc. (\"HG\") values and monetizes industrial & financial assets by providing acquisition, disposition, valuation, and lending services for surplus and distressed assets. This aids in facilitating the circular economy by diverting useful industrial assets from landfills and operating an ethical supply chain by overseeing post-sale account activity of financial assets. Specialties consist of acting as an adviser, in addition to acquiring or brokering turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, real estate, charged-off account receivable portfolios, through its two business units: Industrial Assets and Financial Assets.\n\n\nForward-Looking Statements\n\n\nThis communication includes forward-looking statements based on our current expectations and projections about future events. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. While the Company believes the forward-looking statements contained in ...