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Funko, Inc. Completes Credit Facility Amendment and Extension
September 30, 2019
Source: Globe Newswire
Funko, Inc. (Nasdaq: FNKO) (“Funko” or “the Company”), a leading pop culture consumer products company, announced that certain of its subsidiaries entered into a Second Amendment to their existing Credit Agreement (the “Amendment”) that will reduce the interest margin by 75 basis points as a result of the Company’s strong performance over the past year.
"The Amendment will meaningfully reduce our cost of borrowing," said Jennifer Fall Jung, Chief Financial Officer. “We saw an opportunity to amend our credit facility due to the combined factors of a favorable debt market and the Company’s strong financial performance over this past year.”
In addition, the Amendment extends the maturity of the credit facility by approximately one year, among other changes.
Additional details regarding the Amendment are set forth in the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on September 24, 2019.
Headquartered in Everett, Washington, Funko is a leading pop culture consumer products company. Funko designs, sources and distributes licensed pop culture products across multiple categories, including vinyl figures, action toys, board games, plush, apparel, housewares and accessories for consumers who seek tangible ways to connect with their favorite pop culture brands and characters. Learn more at https://funko.com/, and follow us on Twitter (@OriginalFunko) and Instagram (@OriginalFunko)
Director of Corporate Communications & PR
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