Matthews Gets $22 Million in Secured Credit Financing
Matthews Studio Equipment Group, a Burbank-based supplier of grip, camera and lighting support equipment to the entertainment industry, said it has obtained $22 million of secured credit financing from GE Capital.
The five-year credit facility includes warrants issued to GE Capital for 500,000 shares of Matthews stock.
Matthews said it would use the proceeds for geographic expansion, possibly through acquisitions. The money would also be used to retire other debt and for working capital, it said.
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