Beam Globalannounced the execution of a line of credit with supply chain solutions specialist, OCI Group, based in London, UK. OCI is highly experienced in accelerating business performance for high-growth-potential organizations. The credit facility is non-dilutive and inexpensive, priced at SOFR plus 300 basis points. Beam Global intends to use the funds to provide working capital to support the Company’s rapid growth in product orders and deliveries. The facility is a five year agreement and is effective and active immediately, as per transaction documents. There is no minimum use requirement and OCI and Beam Global have agreed that the $100M cap can be increased if needed.
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