SMRT - SmartRent enters $75M revolving credit facility

SmartRent (NASDAQ:SMRT) enters into a $75M senior secured revolving credit facility with a five-year term. The revolving facility carries an interest rate based on the Term SOFR Rate plus a spread of 1.85% to 2.35% subject to certain liquidity measures. “This credit facility marks another milestone for SmartRent in our journey as the premier platform for smart home technologies. The pricing, covenants and size of the facility reflect the strength of our business model and the visibility of our organic growth potential. Our strong balance sheet is further enhanced by the incremental capital provided by the revolver. We believe that our capital position enables us to execute on our organic growth initiatives and M&A strategy as we endeavor to create value for our customers and shareholders. We are grateful for the support of our banking partners and look forward to working with them in the future as our Company’s capital needs continue

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SmartRent enters $75M revolving credit facility