1347 Capital Corp. Arranges $65M Debt Financing and Potential $10M Preferred Stock Issuance

The merger is conditioned on 1347 Capital Corp. securing at least $65 million in debt financing. Additionally, the company may issue up to $10 million in preferred stock to its sponsor or affiliates if trust account redemptions reduce available cash below a threshold.

“the Company or its affiliates will have debt financing from one or more sources of at least $65 million, in the aggregate, with no less than $40 million funded at the closing of the Merger”

Signals are extracted from public coverage and print archives and pinned to a verbatim quote, presented as reported by their sources; naming a company in a signal is not an accusation against it. The verified mark denotes a high-confidence, corroborated signal. See our methodology and legal notes.