Frankly drew down $1 million of the additional $1.5 million of credit available under their August 31, 2016 credit agreement with Raycom Media bringing the total outstanding loan balance under the credit agreement to $15.5 million.

Frankly, a content and monetization platform for brands and media companies, has agreed to a term sheet with Raycom Media under which Raycom will provide Frankly with up to $16 million in financing.