QIPT - Quipt Home Medical receives commitment letter for $80M of credit facilities

• Quipt Home Medical ( NASDAQ: QIPT ) has received a binding commitment letter from CIT Bank, N.A. for up to $80M of senior secured credit facilities.
• The credit facilities will consist of a term loan facility of up to $5M, a delayed draw term loan facility of up to $55M and a revolving credit facility of up to $20M.
• Proceeds of the loans made under the proposed senior credit facilities will be used to fund potential future acquisitions and general working capital purposes. The transaction is anticipated to close within 30 days.
• Greg Crawford, Chairman and CEO of Quipt, stated: "The commitment letter from CIT for up to $80M of senior credit facilities is a major milestone which paves the way for us to accelerate our acquisition approach across all three tiers of our well-defined strategy."

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