Arq (ARQ) said Thursday it has closed an up to $30 million asset-based revolving credit facility with MidCap Financial.
The company said it intends to use the proceeds to refund its outstanding CF Global term loan, finance growth capital expenses and working capital requirements related to its investment at the Red River plant, and support general corporate purposes.
The facility has a five-year term, Arq added.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.