Zordix announced that the company’s U.S. based subsidiary Maximum Games through MG1 Acquisition Corporation has secured a $30 million USD senior credit facility. The U.S. based facility has a maturity of 36 months, is non-amortising and carries customary covenants and collateral requirements. An initial drawdown of $20 million USD will be made, with the balance available for drawdowns subject to covenants.
The facility will be used to refinance existing debt, investment in owned IP games, and to pursue accretive acquisitions. The facility is being provided by the investment firm Turning Rock Partners.
“With this flexible non-dilutive financing secured, we are now well equipped to accelerate our roadmap of owned IP and third party titles and continue investing in high quality franchises to bolster our business,” Christina Seelye, CEO of Zordix, said.