AudioEye Secures New $20 Million Loan to Accelerate Digital Accessibility Initiatives
AudioEye Secures New $20 Million Loan to Accelerate Digital Accessibility Initiatives
AudioEye, Inc. (Nasdaq: AEYE), known for its leadership in digital accessibility, has made a significant leap forward by securing a new $20 million loan facility from Bridge Bank, a division of Western Alliance Bank. This move not only strengthens AudioEye's financial position but also aligns with its mission to enhance digital accessibility for diverse user bases.
Structure of the Loan Facility
The recently announced loan facility comprises three key components:
1. A $12 Million Term Loan: This will be used to fully pay off AudioEye's existing term loan, improving the company's cash flow.
2. A $3 Million Revolving Credit Line: This provides flexibility for operational needs and any immediate opportunities that may arise.
3. A $5 Million Delayed Draw Loan: This portion is specifically earmarked for potential
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