Limbach Holdings entered into a credit agreement with Fifth Third Bank as administrative agent providing a new $10 million term loan.
According to a related 8-K filing, the loan is to be used to finance the repurchase of all of the company’s outstanding class A preferred stock, par value $0.0001 per share, including accrued but unpaid dividends, and the payment of certain fees and expenses associated therewith.
Loans under the credit agreement bear interest, at the borrower’s option, at either adjusted LIBOR or a base rate, in each case, plus an applicable margin.
