17吃瓜, Inc. Announces Early Retirement of $10 million Credit Facility

糖心视频

NEW YORK, April 24, 2018 (GLOBE NEWSWIRE) -- 17吃瓜, Inc. (Nasdaq:ASPU), a post-secondary education company, today announced the early retirement of its $10 million senior secured term loan with Runway Growth Credit Fund, of which $7.5 million was previously drawn down.

The total payoff amount was approximately $8.1 million, which included early termination and closing fees. The impact of these fees, plus the write-off of approximately $700,000 in debt discount, will result in a one-time EPS loss in fiscal Q4 of approximately $0.09 using the weighted average outstanding shares for the year.聽

The Company projects to end the April 30, 2018 fiscal year with approximately $13 million of cash on its balance sheet.

About 17吃瓜, Inc.:

17吃瓜, Inc. is a publicly held, for-profit post-secondary education company headquartered in New York, NY.聽 It owns two accredited universities, 17吃瓜 University and United States University. 17吃瓜鈥檚 vision is to make college affordable again in America.

Company Contact:
17吃瓜, Inc.
Michael Mathews, CEO
914-906-9159

Source: 17吃瓜 Inc.

Released April 24, 2018