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Pulse Closes on $3.5MM Facility With TCA Global

November 11, 2015, 07:45 AM
Filed Under: Beverage

The Pulse Beverage Corporation, makers of Natural Cabana Lemonades, Limeades, and Coconut Waters and PULSE® Heart & Body Health functional beverages, announced it has closed on a $3.5 million senior secured revolving line of credit facility ("Credit Facility").

Under the terms of the agreement, TCA Global Credit Master Fund, L.P. ("Lender") has committed to lend a total of $3.5 million. The initial tranche of $650,000 was funded on November 6, 2015.  Following the initial tranche, the Company must meet specific requirement to gain access to an additional $250,000 being held in escrow and must meet specific monthly collateral requirements to further draw upon the Credit Facility. The initial tranche matures November 6, 2016. The Credit Facility is secured by a senior secured interest in all of the company's assets. In connection with the Credit Facility, the company also issued 3,000,000 shares of restricted common stock to the lender. The company has the right to buy-back these shares by paying $150,000 to the lender on or before May 6, 2016, six months after issuance.

TCA Fund Management Group, as the Investment Manager for TCA Global Credit Master Fund, acts as an advisor to many small companies from its offices in the United States, United Kingdom and Australia. TCA Fund is a short duration, absolute return fund specializing in senior secured lending to small, mainly listed companies in the U.S., Canada, Western Europe and Australia.

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