Loan & DebtJul 2, 2026, 10:46 AM
Integrated BioPharma Extends $4M Credit Line, Adds $250K ELOC
AI Summary
Integrated BioPharma, Inc. and its subsidiary, Manhattan Drug Company, Inc., entered into an Amendment to Loan Documents with PNC Bank, National Association. This amendment extends the existing $4,000,000 revolving line of credit to April 14, 2027. Additionally, the company secured a new Convertible Line of Credit (ELOC) for up to $250,000, intended for equipment and vehicle purchases, replacing a matured $500,000 convertible equipment line of credit.
Key Highlights
- Existing revolving line of credit extended to April 14, 2027.
- Revolving line of credit maintains aggregate principal amount of $4,000,000.
- New Convertible Line of Credit (ELOC) established for up to $250,000.
- Convertible ELOC advances will be used for equipment and/or vehicle purchases.
- Convertible ELOC interest rate: Daily SOFR + 250 basis points (2.50%).
- Previous Convertible Equipment Line of Credit of $500,000 was terminated.
Price Impact
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