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eMagin Announces Working Capital Facility With Rosenthal & Rosenthal

December 28, 2016, 06:58 AM
Filed Under: Technology

eMagin Corporation, a leader in the development, design and manufacture of Active Matrix OLED microdisplays for high resolution imaging products, announced that on December 21, 2016, the Company entered into a $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.

“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,” said Andrew Sculley, President and CEO of eMagin Corporation.

According to an 8K filed with the SEC, Rosenthal & Rosenthal is named as the lender.

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