HOFV - Hall of Fame Resort & Entertainment jumps almost 6% after securing $40M loan

Hall of Fame Resort & Entertainment (HOFV) secured a $40M loan from Aquarian Holdings, that it will use to repay the balance of an existing bridge loan.The remaining funds from agreement and recent equity raise will provide additional working capital to help advance HOFV’s strategic priorities including the continued construction of Phase II of the Destination.The Loan has a term of 12 months with the potential to extend for an additional 12 months.“We are pleased to complete this financing agreement with a great partner in Aquarian, which allows us to address our debt maturity while at the same time provides us with the optionality to move our strategic business plan forward for Phase II.” said Michael Crawford, President and CEO of HOFV.Shares +5.8% PM to $1.46.

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Hall of Fame Resort & Entertainment jumps almost 6% after securing $40M loan