Aterian extends asset backed credit facility with MidCap Financial

Aterian, has extended its asset backed credit facility with MidCap Financial, which is managed by a subsidiary of Apollo Global Management, Inc. The Credit Facility term has been extended to December 2026 and gives Aterian access to $17.0 million in current commitments which can be increased, subject to certain conditions, to $30.0 million. The Credit Facility extension reduces the minimum liquidity financial covenant from a peak of $15.0 million to $6.8 million of cash on hand and/or availability in the Credit Facility. The extension fee was less than $0.1 million.