iMedia Brands selected Lincoln International as its investment banker and advisor to manage and complete a refinancing of the company’s current asset-based lending revolving credit facility.
“Lincoln International has an impressive track record of helping companies improve their capital structure, working aggressively and thinking outside of the box,” Tim Peterman, CEO of iMedia, said. “We look forward to Lincoln helping us refinance our existing ABL revolving credit facility as the next logical step in achieving our chief priority of improving our balance sheet. We expect the new facility to be scalable with our growth strategy.”
iMedia and certain of its subsidiaries, as borrowers, are currently party to a loan and security agreement with multiple parties. The company originally entered into the loan agreement on July 30, 2021, for up to an $80 million revolving loan. As of April 10, the company estimated it had $29 million outstanding under the credit facility.
