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Traffic.com Arranges $12M Loan Deal
September 1, 2006 at 6:13 AM (PT)
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Traffic.com
An SEC 8-K filing by TRAFFIC.COM says that the traffic service has entered a $12 million loan agreement with SQUARE 1 BANK. The agreement is for two years ending AUGUST 27, 2008 and can be terminated by TRAFFIC.COM on 30 days' notice; the rate is prime plus 0.5%, and the bank is taking warrants for over 26,000 shares of the company at $4.60/share exercisable through 2013.
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