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Commercial FinanceFebruary 10, 2015

Super G Funding Closes $1.5 Million 2nd Lien Financing for Professional Audio Electronics Manufacturer

The Company:

A leading designer and manufacturer of software, hardware and related accessories for professional audio recording and live sound applications worldwide.

The Financing Situation:

The Company had engaged an investment bank to arrange a more flexible credit facility that would scale with the Company’s anticipated growth.  To avoid pressures on shipping windows during the investment banking process, and pending completion of a new senior debt facility, the Company projected extra working capital requirements which created a need for 2nd lien debt capital that could close quickly.

The Solution:

Super G underwrote and approved a 2nd lien term loan within weeks and worked in partnership with the existing senior lender on an intercreditor agreement to close the transaction quickly given the time sensitivity.   Super G was able to address the short-term capital need with a structured solution that provided a custom repayment schedule and our covenant light documents made it easy for the investment bankers to continue their debt raise process.  Following the closing, the Company was successful in replacing its senior capital with a more flexible lender.