Mace Security obtains $2M revolving loan with GemCap

Mace Security International has obtained a new $2.0 million revolving loan with GemCap Solutions, LLC. The new credit facility replaces the previous $1.5 million bank credit agreement. The new credit facility matures in three years, and bears interest at Wall Street Prime plus 6%, with a floor of 14.25%. The facility is secured by substantially all assets of the Company. The amount drawn under the new credit facility at closing was $1.5 million.