Couchbase (BASE) has released an update to notify the public and investors about an entry into a material definitive agreement.
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Couchbase, Inc. has secured a $25 million senior secured revolving loan facility with MUFG Bank, which could potentially increase to $50 million. This new credit arrangement, which replaces a previous one with Silicon Valley Bank, will support the company’s general business needs. The loan, secured by the company’s assets excluding intellectual property, carries an interest rate based on Term SOFR plus 3.0% and includes customary covenants and obligations. If Couchbase adheres to the terms, it can freely borrow and repay within the three-year agreement period.
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For a comprehensive understanding of the announcement, you can read the full document here.