eMagin said that it has arranged a $5 million revolving credit facility for working capital. The money will be used for general corporate purposes including funding the inventory build for the company’s recently launched consumer products, BlazeSpark and BlazeTorch. The facility has a term of three years and will provide borrowing capacity based on the company’s eligible inventory and receivables.
“As a result of this transaction, we were able to strengthen our balance sheet at an attractive cost of capital,” said Andrew Sculley, President and CEO of eMagin Corporation.
