Eightco Holdings Inc. Secures Asset Based Lending Facility for Forever 8
06 June 2023 - 9:30PM
Eightco Holdings Inc. (NASDAQ: OCTO), a leader in the e-commerce
inventory solutions space is pleased to announce a milestone in its
growth journey. The company has successfully closed an asset-based
lending facility (ABL) from several investors, including members of
its management team and the visionary founders of Forever 8.
The ABL marks a significant achievement for
Eightco Holdings as it strengthens its financial position and paves
the way for continued expansion. With Forever 8’s ambitious plans
to enter multiple markets, the ABL provides the necessary capital
to fuel this growth.
"We are excited to announce this ABL," said CFO
of Eightco Holdings, Brett Vroman. “This strategic financing
solution equips us with the capital needed to support Forever 8's
expansion and seize significant growth opportunities with new
and existing customers. By ensuring improved inventory liquidity,
we can drive value for our shareholders while meeting the
evolving needs of our customers," Vroman added.
About Eightco Holdings
Inc.
Eightco Holdings Inc. (NASDAQ: OCTO) is
committed to growth focused around its existing subsidiaries,
Forever 8, an inventory management platform for e-commerce sellers,
and Ferguson Containers, a provider of complete manufacturing and
logistical solutions for product and packaging needs, through
strategic management and investment. In addition, the company is
actively seeking new opportunities to add to its portfolio of
technology solutions focused on the e-commerce ecosystem through
strategic acquisitions. Through a combination of innovative
strategies and focused execution, Eightco Holdings Inc. aims to
create significant value and growth for its portfolio companies and
shareholders.
For additional information, please
visit www.8co.holdings
About Forever 8
Forever 8 is a leading provider of cash-flow
management solutions and standardized information for small to
medium-sized businesses. Our innovative platform addresses the
challenges faced by e-commerce sellers in managing inventory
capital, offering flexible and scalable tools. By eliminating the
need for personal guarantees and fixed amortization schedules, we
empower businesses to optimize their cash-flow process. With a
strong focus on customer satisfaction, we have assisted numerous
clients in effectively managing their cash flow and unlocking their
growth potential.
For additional information, please visit www.forever8.com
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the federal securities laws. All
statements in this press release other than statements of
historical fact could be deemed forward looking. Words such as
“plans,” “expects,” “will,” “anticipates,” “continue,” “expand,”
“advance,” “develop” “believes,” “guidance,” “target,” “may,”
“remain,” “project,” “outlook,” “intend,” “estimate,” “could,”
“should,” and other words and terms of similar meaning and
expression are intended to identify forward-looking statements,
although not all forward-looking statements contain such terms.
Forward-looking statements are based on management’s current
beliefs and assumptions that are subject to risks and uncertainties
and are not guarantees of future performance. When considering
these forward-looking statements, you should keep in mind the risk
factors and other cautionary statements in Eightco’s filings with
the Securities and Exchange Commission, including the section
titled “Risk Factors” in its Annual Report on Form 10-K and its
Quarterly Reports on Form 10-Q. All information in this press
release is as of the date of the release, and Eightco undertakes no
duty to update this information or to publicly announce the results
of any revisions to any of such statements to reflect future events
or developments, except as required by law.
For further information, please
contact:Investor RelationsRichard
Brown617-819-1289investors@8co.holdings
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