Jagged Peak, Inc. announced that it amended and restated its two-year senior credit facility with Fifth Third Bank to increase borrowing capacity for working capital.
The facility provides a revolving line of credit with a maturity of two years and a maximum borrowing capacity of $5 million. The pricing and covenants were not changed in connection with this amendment.
Highlights of the amended and restated senior credit facility include the following:
- Borrowing capacity increased to $5 million from $3 million
- Maturity extended to August 2015
"This amended facility strengthens our financial flexibility," says Jagged Peak CFO Albert Narvades. "Fifth Third Bank understands our business and has an appreciation of the improvements in our financial performance. We are pleased with their continued support."
Jagged Peak is a leading e-commerce solutions provider with software and services that enhance the scalability, flexibility and profitability of multi-channel online businesses. Its cornerstone technology is EDGE---an enterprise-class e-commerce platform that includes a full-featured e-commerce Platform (ECP) and robust Order Management System (OMS) as well as a Warehouse Management System (WMS) and Transportation Management System (TMS).