Information Management Associates - (IMAA) Message Board

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Technology Stocks : Information Management Associates - (IMAA)

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To: TFF who wrote (120)	8/23/1999 2:42:00 PM
From: Wolff	of 165

Is IMAA getting these loans or are they still cash strapped? On August 12, 1999, IMA signed a commitment letter for an $8 million secured revolving credit facility from an institutional lender. ... The closing of the line of credit is subject to certain conditions, including the execution of definitive financing documents. In March 1999, the Company obtained a commitment from a commercial bank to provide a $7.5 million senior secured revolving credit facility bearing interest at a floating rate based on several rate alternatives. ... The closing of the Credit Facility is subject to execution of a definitive credit agreement and other customary conditions. The Company expects to formalize the Credit Facility with the bank in April 1999.

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