Nautilus announces $70 million credit facility

//Nautilus announces $70 million credit facility

Nautilus announces $70 million credit facility

Nautilus Inc. this month announced a $70 million credit facility designed to fuel the company's ongoing digital reboot. The exercised equipment maker's shares (NYSE: NLS) fell 84 percent last year, but new CEO Jim Barr hopes to turn the company around with a deeper focus on platforms powered by artificial intelligence and connected fitness. The credit facility, which includes a $55 million asset-based revolver and a $15 million term loan from Wells Fargo, will help the effort. "Our new credit…

Article by [author-name] (c) Banking & Financial News - Banking & Financial News Headlines | Bizjournals.com - Read full story here.

By | 2020-02-14T21:35:29+00:00 February 14th, 2020|Economics|

About the Author: