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American Bio Medica Corporation (ABMC) Completes Debt Refinancing


1/22/2013 9:25:15 AM

KINDERHOOK, N.Y.--(BUSINESS WIRE)--American Bio Medica Corporation (ABMC.PK) today announced that they have entered into an agreement with Imperium Commercial Finance Master Fund LP (“Imperium”) that provides the Company with a secured revolving line of credit of up to $1.5 million for working capital and a $500,000 supplemental advance for new market opportunities. An additional $1 million term note is also available to the Company subject to milestones to be determined and reached in the future. The Company will use some of the proceeds from the revolving line of credit to pay off its existing line of credit with Medallion Financial Corp.

Read at BioSpace.com

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