Lendway (LDWY) has issued an announcement.
Lendway, Inc. has successfully acquired Bloomia B.V., a prominent player in the fresh cut tulip industry, for a base price of $54.4 million with adjustments. The deal was executed using a combination of debt, bridge loans, and cash on hand, with Lendway guaranteeing the performance of its subsidiaries under the purchase agreement. The financing arrangement includes a $18 million term loan and a $6 million revolving credit facility to support the acquisition and Bloomia’s ongoing operations. This strategic move expands Lendway’s portfolio and marks a significant foray into the agricultural sector.
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