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COPSync Bankruptcy Financing Approved

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The U.S. Bankruptcy Court issued a final order authorizing and approving COPSync’s senior secured super-priority post-petition financing; (ii) granting liens and super-priority administrative expense status and (iii) modifying the automatic stay.

The order states, “Debtor is authorized to enter into a new money revolving loan under a secured superpriority priming senior credit facility (the ‘DIP Revolving Facility’) pursuant to the terms of the DIP Loan Financing Agreement, Exhibit A (the ‘DIP Credit Agreement’) with Kologik Financing Partners, the ‘DIP Lender’) in the amount of up to $300,000 upon entry of this Order (together the ‘Revolving Loan Commitment’), to finance working capital, professional fees and for other corporate purposes of the Debtor.”

Read more COPSync bankruptcy news.

The post COPSync Bankruptcy Financing Approved appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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