Datatrak International, Inc. (OTC Markets: DTRK), a software-as-a-service provider and innovation leader of cloud-based technologies for the life sciences industry, disclosed that the Company has secured a line of credit with KeyBank National Association ("KeyBank").
On March 26, 2021, Datatrak entered into a revolving line of credit (“2021 Line of Credit”) with KeyBank. The 2021 Line of Credit provides for draws when requested by the Company of up to $750,000 to be used for business operations. Interest will accrue monthly on any outstanding balance at a rate equal to 1-Month LIBOR, subject to a .50% floor, plus 2.25% or KeyBank’s Prime Rate plus 0.25%, subject to a 3% floor. The maturity date of the 2021 Line of Credit is March 31, 2022. There have been no draws under the 2021 Line of Credit to date.
About Datatrak International, Inc.
Datatrak International, Inc. is a software-as-a-service provider of enterprise cloud-based technologies for the life sciences industry. Datatrak’s unified eClinical solutions and related services help improve cost and time efficiencies for the clinical trials industry. Datatrak built its multi-component, comprehensive solution on a single, unified platform and expanded this concept to include services delivery via Datatrak’s Clinical and Consulting Services group. The Company delivers a complete portfolio of software products designed to accelerate the reporting of clinical research data from sites to sponsors and ultimately regulatory authorities, faster and more efficiently than loosely integrated technologies. The Datatrak Enterprise Cloud software solution, deployed worldwide through an ASP or Enterprise Transfer offering, supports Preclinical and Phase I - Phase IV drug and device studies in multiple languages throughout the world. Datatrak is located in Cleveland, Ohio and College Station, Texas. For more information, visit http://www.datatrak.com.
Contacts:
Sales: Scott DeMell Employment Opportunities Shareholders:
Scott.DeMell@datatrak.com Laura.Stuebbe@datatrak.com investor@datatrak.com