Mogo Inc. Extends Credit Facility with Fortress, Enhances Financial Flexibility

Mogo Finance Technology ( (TSE:MOGO) ) has provided an update.

Mogo Inc. announced an amendment to its senior credit facility with Fortress Investment Group, extending the maturity date by three years to January 2, 2029, reducing the interest rate by 100 basis points, and potentially increasing the available capital from $60 million to $100 million. This strategic move is aimed at lowering Mogo’s cost of capital and enhancing financial flexibility to support long-term growth, reinforcing its relationship with Fortress, a respected investment manager.

More about Mogo Finance Technology

Mogo Inc. is a digital wealth and payments company based in Vancouver, Canada, with over 2 million members and $12 billion in annual payments volume. The company holds a significant equity stake in Canada’s leading Crypto Exchange, WonderFi, and offers a range of digital financial solutions including commission-free stock trading and a low-cost payments platform through its subsidiary, Carta Worldwide. Founded in 2003, Mogo operates in multiple locations including Vancouver, Toronto, London, and Casablanca.

YTD Price Performance: -22.18%

Average Trading Volume: 72,036

Technical Sentiment Consensus Rating: Strong Buy

Current Market Cap: $25.08M

For a thorough assessment of MOGO stock, go to TipRanks’ Stock Analysis page.