Fri 02/24/2023 17:09 PM
Lenders to Wahoo Fitness, a fitness technology company based in Atlanta, last week approved a $15 million bridge loan to finance operations until April, according to sources. Lenders were approached on Feb. 9 with the proposal as the business continued to burn cash and sales continued to lag expectations, they noted.
The loan, which is senior to the existing debt, required unanimous approval from lenders by last Thursday, Feb. 16, sources said. Lenders were paid a consent fee for the new...
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