Enthusiast Gaming Takes $20m Loan

Enthusiast Gaming Takes $20m Loan

Business Investments

17 July 2024 12:41

Enthusiast Gaming announced today securing a $20m non-revolving term loan for a four-year period. This financing was secured through a credit agreement with lenders led by Beedie Investments.

The company has not yet disclosed specific plans for using these funds, considering its diverse portfolio encompassing websites, YouTube channels, content creators, esports teams, and brand partnerships.

More:Call Of Duty: Black Ops 6 Multiplayer Open Beta Dates Announced

The Term Loan carries a fixed interest rate of 14.0% per annum, calculated and paid monthly. Enthusiast Gaming noted in its announcement that the loan will be guaranteed by select Canadian and US subsidiaries and secured with a second-ranking security interest.

Adrian Montgomery, Interim CEO & Chairman of Enthusiast Gaming stated “This strategic investment significantly bolsters our financial position, providing $20 million of additional liquidity, which will enable us to accelerate our vision of uniting gaming enthusiasts globally and delivering exceptional value to our partners and communities,” said . “We are delighted to partner with Beedie Capital, whose reputation and successful history of supporting high-growth companies is unmatched.”

Tags: Enthusiast Gaming

Share:

Sources:

File:Enthusiast Gaming.png

Report mistake   

Submit news   

Related news

View All

Enthusiast Gaming Reveals Q3 2024 Financial Results

Enthusiast Gaming Holdings (TSX: EGLX), , announced its financial results for the third quarter of 2024.The company reported revenue...

Business

Nov 18, 2024

Enthusiast Gaming to Sell Assets

Enthusiast Gaming (TSX: EGLX) has finalized a definitive agreement for the sale of certain non-core and unprofitable casual gaming...

Business

Apr 01, 2024

Enthusiast Gaming Partners with Netflix

Enthusiast Gaming partnered with Netflix to launch ONE PIECE Fortnite Experience.Parties will promote the release of the new live-action adaption...

Business

Sep 07, 2023

Valnet Acquires Polygon

Polygon, one of the most prominent video game and pop culture websites of the last decade, has been acquired by...

Business

May 02, 2025

Epic Games Reveals Webshop for Devs

Just a day after its significant legal victory over Apple, Epic Games has announced a new set of features...

Business

May 02, 2025

Enthusiast Gaming Takes $20m Loan

Business Investments

17 July 2024 12:41

Tags: Enthusiast Gaming

Enthusiast Gaming announced today securing a $20m non-revolving term loan for a four-year period. This financing was secured through a credit agreement with lenders led by Beedie Investments.

The company has not yet disclosed specific plans for using these funds, considering its diverse portfolio encompassing websites, YouTube channels, content creators, esports teams, and brand partnerships.

More:Call Of Duty: Black Ops 6 Multiplayer Open Beta Dates Announced

The Term Loan carries a fixed interest rate of 14.0% per annum, calculated and paid monthly. Enthusiast Gaming noted in its announcement that the loan will be guaranteed by select Canadian and US subsidiaries and secured with a second-ranking security interest.

Adrian Montgomery, Interim CEO & Chairman of Enthusiast Gaming stated “This strategic investment significantly bolsters our financial position, providing $20 million of additional liquidity, which will enable us to accelerate our vision of uniting gaming enthusiasts globally and delivering exceptional value to our partners and communities,” said . “We are delighted to partner with Beedie Capital, whose reputation and successful history of supporting high-growth companies is unmatched.”

Share:

Sources:

File:Enthusiast Gaming.png

Report mistake   

Submit news   

Related news

View All

Enthusiast Gaming Reveals Q3 2024 Financial Results

Enthusiast Gaming Holdings (TSX: EGLX), , announced its financial results for the third quarter of 2024.The company reported revenue...

Business

Nov 18, 2024

Enthusiast Gaming to Sell Assets

Enthusiast Gaming (TSX: EGLX) has finalized a definitive agreement for the sale of certain non-core and unprofitable casual gaming...

Business

Apr 01, 2024

Enthusiast Gaming Partners with Netflix

Enthusiast Gaming partnered with Netflix to launch ONE PIECE Fortnite Experience.Parties will promote the release of the new live-action adaption...

Business

Sep 07, 2023

Valnet Acquires Polygon

Polygon, one of the most prominent video game and pop culture websites of the last decade, has been acquired by...

Business

May 02, 2025

Epic Games Reveals Webshop for Devs

Just a day after its significant legal victory over Apple, Epic Games has announced a new set of features...

Business

May 02, 2025