Unique Fabricating, a leader in engineering and manufacturing multi-material foam, rubber, and plastic components utilized in noise, vibration, and harshness management and air/water sealing applications for the transportation, appliance, medical, and consumer/off-road markets, has reached agreement with its bank lenders and with certain existing equity investors.

The agreement with investors provides $3 million in debt financing. The Company's bank lenders have agreed to certain amendments to its existing credit facility, including allowing the Company to raise up to $4 million of  additional debt financing. The Company has closed on $3 million of the proposed $4 million of new financing.

The Company has engaged B. Riley Securities as investment banker in connection with a proposed comprehensive refinancing of the senior secured credit facility.

"Unique Fabricating retained B. Riley in July to advise and assist with respect to a proposed comprehensive refinancing of the existing senior secured credit facility," commented Richard L. Baum, Chairman of the Board of Directors of Unique Fabricating. "We believe that today's liquidity bridge is an important first step towards a refinancing, and we continue to work with B. Riley to complete that refinancing. Doug and the Unique team have worked diligently to improve operations, reduce costs, and continue to meet constantly changing customer timelines. We are encouraged by the cooperation of our existing lenders, and the interest received thus far from several qualified institutions in the proposed refinancing. Our goal is to complete this refinancing as expeditiously as possible."

"We believe the note offering will provide us the necessary financing to execute our business plan while we seek refinancing and should mitigate concerns from customers about our financial condition," added Doug Cain, Unique Fabricating's Chief Executive Officer. "Unique Fabricating continues to efficiently navigate unprecedented industry challenges, and we believe that this financing should bolster our ability to emerge as one of the stronger participants in the industry. We are grateful for the continued support of our lenders and investors, as we work through this refinancing initiative."