Aterian enters new credit facility for $50 million with MidCap

By Mary-Katherine Stinson

Lexington, Ky., Dec. 30 – Aterian, Inc. entered a new credit facility with MidCap Financial Trust, which is managed by a subsidiary of Apollo GI Management, Inc., for up to $50 million, according to a company announcement on Monday.

The three-year term facility consists of $40 million in commitments with an accordion facility of an additional $10 million.

The proceeds on closing were used to repay the company’s existing $25 million term loan with High Trail.

Aterian is a New York City-based consumer product platform. The company was formerly known as the Mohawk Group Holdings, Inc.

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