Farmers Edge, a digital agriculture company, entered into an amendment to its secured credit facility with Fairfax Financial and certain of its affiliates, increasing the facility by $6.37 million to a principal amount of $81.37 million. The increased amount is being extended on the same terms as the underlying credit agreement, including deferred interest at a rate of 6% per annum and a maturity date of Jan. 31, 2025. Farmers Edge will use the net proceeds of the facility for working capital and general corporate purposes.
“We deeply appreciate Fairfax’s collaboration and support in extending and expanding our credit facility during this transformative phase of our journey,” Vibhore Arora, CEO of Farmers Edge, said.
