OSA-Direct
Wednesday, 26 Apr 2017

eMagin announces US$5 million revolting credit facility

The funds will help the growth of the company's consumer products business and provide flexibility as they expand their presence in commercial and consumer markets

23 Dec 2016 | Editor

eMagin Corp. has announced that on December 21, 2016, the Company entered into a US$5 million revolving credit working capital facility. The financing will be used for general corporate purposes including funding the inventory build for the Company’s recently launched consumer products, BlazeSpark and BlazeTorch.

The facility has a term of three years and will provide borrowing capacity based on the Company's eligible inventory and receivables.

Andrew Sculley, President and CEO of eMagin Corp, said, "We are very pleased to enter into this financing transaction to fund the growth of our consumer products business and provide flexibility as we expand our presence in commercial and consumer markets. As a result of this transaction, we were able to strengthen our balance sheet at an attractive cost of capital."

www.emagin.com   


About eMagin

A leader in OLED microdisplay technology, OLED microdisplay manufacturing know-how and mobile display systems, eMagin manufactures high-resolution OLED microdisplays and integrates them with magnifying optics to deliver virtual images comparable to large-screen computer and television displays in portable, low-power, lightweight personal displays. eMagin’s microdisplays provide near-eye imagery in a variety of products from military, industrial, medical and consumer OEMs.

Source: eMagin


login
cintelliq logo