Creative Realities to restructure debt through revolving credit facility

Creative Realities had signed a non-binding commitment letter with First Merchants Bank for a $20 million senior secured revolving credit facility with a $5 million accordion feature. A portion of the funds available from the Revolver will, upon closing, pay off all existing indebtedness of the Company. Along with closing costs and ancillary fees, the total amount of initial drawn funds on the Revolver is anticipated to be approximately $14.5 million at closing. Additional terms are disclosed in the Company’s Current Report on Form 8-K filed with the SEC on the date of this release. The parties intend to consummate the Revolver on or after May 17, 2024, subject to the completion of First Merchants’ due diligence, definitive documentation and customary terms and conditions.