Visium Technologies Signs $2.5M Revolving Line of Credit Agreement to Finance Pending Contracts
Visium Technologies, Inc. has signed a 3-year $2.5 million revolving line of credit agreement with Impact Capital Investments. The agreement allows Visium to access capital based on its accounts receivables and obtain mobilization advances. This credit facility will provide incremental liquidity as the company executes its growth strategies.
07/19/2023 - 08:45 AM
Agreement Provides Financial Flexibility to Execute Concurrent Multiple Contracts
FAIRFAX, VA / ACCESSWIRE / July 19, 2023 / Visium Technologies, Inc. ("Visium" or the "Company") (OTC PINK:VISM), a leading global cybersecurity and analytics company, announced today that it has signed a 3-year $2.5 million revolving line of credit agreement with Impact Capital Investments. The agreement provides Visium with the ability to access capital based on its accounts receivables, and in some cases obtain mobilization advances in advance of receivables being generated.
"In anticipation of an increase in sales activity, we secured this credit facility to provide incremental liquidity as we execute our growth strategies," said Mark Lucky, Visium CEO. "We are finally at the point of signing multiple cybersecurity contracts brought to us by our partners. Understandably, there has been some concern about our ability to execute on these sizable contracts in advance of receipt of payment from the customer. This agreement will provide us with the capital to not only execute on these projects prior to receipt of customer payment, but will also enable the Company to close on these pending contracts concurrently."
About Visium Technologies, Inc.
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Safe Harbor Statement: Under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements that reflect management's current views with respect to future events and performance. These forward-looking statements are based on management's beliefs and assumptions and information currently available. The words "believe," "expect," "anticipate," "intend," "estimate," "project" and similar expressions that do not relate solely to historical matters identify forward-looking statements. Investors should be cautious in relying on forward-looking statements because they are subject to a variety of risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed in any such forward-looking statements. These factors include, but are not limited to, whether the reverse stock split will be beneficial to the Company and its shareholders, any inability to meet the NYSE American continued listing standards in the future for any reason, and those other factors described in our filings with the U.S. Securities and Exchange Commission. Any responsibility to update forward-looking statements is expressly disclaimed.
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Visium Technologies, Inc.mlucky@visiumtechnologies.com
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SOURCE: Visium Technologies, Inc.
https://www.accesswire.com/768917/Visium-Technologies-Signs-25M-Revolving-Line-of-Credit-Agreement-to-Finance-Pending-Contracts
The company mentioned in the press release is Visium Technologies, Inc.
Visium Technologies signed a credit agreement with Impact Capital Investments.
The credit agreement is for 3 years and has a value of $2.5 million.
The credit agreement allows Visium Technologies to access capital based on its accounts receivables and obtain mobilization advances.
Visium Technologies secured this credit facility in anticipation of an increase in sales activity and to provide incremental liquidity as they execute their growth strategies.
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