|
The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Gibraltar Expands Asset-Based Loan Facility to $30MM for Pharmaceutical Distributor
Wednesday, January 8, 2025
|
Lenders/Participants
|
Gibraltar Business Capital [Lender]
|
|
Structure
|
Asset-Based Loan Facility
|
|
Amount
|
$30.000
Million
|
|
Borrower(s)
|
Prodigy Health
|
|
Description
|
GBC recently increased its asset-based loan facility to $30 million, further supporting Prodigy Health's growth. The national drug distributor will use the increased facility to fund working capital by expanding its inventory of high-demand biopharmaceuticals, enhancing its distribution network, and pursuing technology upgrades essential for its evolving business model. The initial loan facility enabled a first round of growth in Prodigy Health's distribution capabilities and product mix, while the expanded facility supports the company's business model shifts. Prodigy Health also received a significant capital infusion from its sponsor, enhancing liquidity to support its strategic plan.
|
|
Industry
|
Pharmaceuticals
|
|
Location
|
TX
|
| Related Tags |
Gibraltar Business Capital, Non-bank Lender, Prodigy Health
|
ABL Advisor
Deal Tables
2025
|
|
|
|