Emerge Commerce refinances term loan, ups facility to C$25 million

By Marisa Wong

Los Angeles, Nov. 8 – Emerge Commerce Ltd. announced the refinancing of its C$8 million term loan and upsizing of its credit facility for a total limit of C$25 million.

In consideration for refinancing and expanding the facility, the lender was entitled to fees and expenses, including a commitment fee equal to C$312,500, which was fully paid and satisfied by the issuance of 434,028 common shares of the company.

As of closing, C$8 million of the C$25 million has been advanced and remains outstanding.

The facility is primarily expected to be used to fund future mergers and acquisitions in the e-commerce space.

The acquirer and operator of niche e-commerce brands is based in Toronto.

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