Uncaged Capital recently Funded a $22.9 Million Senior Debt

SAN FRANCISCO - May 5, 2024 - PRLog -- Nevada Fabrics Company, Inc. announced the refinancing of the company's existing senior debt under a new credit agreement with Uncaged Capital. This will provide additional availability over the current senior debt and extends the maturity date of the company's senior debt.

The Uncaged Capital facility provides senior secured financing of $22.9 million to Nevada Fabrics Company, Inc. The proceeds from the new credit facility were used to extinguish the amounts outstanding under the existing loan agreement and to pay related fees and expenses.

Steve Bridge, President and Chief Executive Officer commented, "We are very excited to partner with Uncaged Capital, and we look forward to growing the relationship further. The decision was made to negotiate a credit facility with new lenders a year and a half in advance of the expiration of our current facility, in order to strengthen our long term position. By extending the maturity of our senior secured debt and increasing availability under our Revolver and Term Loan we believe we have enhanced our ability to achieve the inventory productivity and operational improvements we have implemented and continue to drive.

Nevada Fabrics Company, Inc is pleased with the strong demonstration of support from Uncaged Capital with regard to the strength of our business and strategic outlook. We look forward to growing our relationship with Uncaged Capital and working with them as we execute our many on-going initiatives."

Nevada Fabrics Company, Inc. is committed to being the authority in fabric, sewing and crafts, serving creative enthusiasts with a complete selection of fashion and home decorating textiles, sewing accessories, needlecraft supplies and sewing machines.

Media Contact:

James McDonough.

Managing Director

Info@UncagedCapital.Net

www.uncagedcapital.net