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Hooper Holmes enters new credit facility

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Hooper Holmes enters new credit facility

Hooper Holmes Inc.entered into a new $7 million credit facility agreement with CNH Finance LP affiliateSCM Specialty Finance Opportunities Fund LP.

The agreement replaces the previous credit facility with ACFFinCo I LP and eliminates the requirement of the company to issue an additionalwarrant for the purchase of common stock, valued at approximately $1.3 million,to SWK Funding LLC. Borrowings under the new agreement bear interest at a fluctuatingrate that is equal to the prime rate plus 5.5%.

The company said the new credit facility will be available forgeneral corporate purposes and growth initiatives.