The Arena Group (AREN) has provided an announcement.
The Arena Group Holdings, Inc. has secured a $25 million loan from Simplify Inventions, LLC to bolster its working capital and support general corporate activities. The loan, which carries a 10% annual interest rate and matures in March 2026, is backed by the assets of the company and its subsidiaries. Upon finalizing the deal, the company immediately used part of the funds to settle a previous debt with SLR Digital Finance LLC and the rest for corporate needs. This financial move aims to strengthen the company’s position and ensure stable operations moving forward.
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