Jones Soda Co. announced it has entered into a new $5 million revolving credit facility with Two Shores Capital Corp., replacing a previous $2 million facility from May 2024. This new facility is expected to provide significant working capital.
The funds available under the facility are designated for working capital purposes and are secured by all of the company's assets and its subsidiaries. Advances drawn under the facility will bear an interest rate of 13.75% per annum.
In connection with the facility, Jones Soda has agreed to issue Two Shores 750,000 warrants with an exercise price of $0.45 per share for a three-year term. This enhanced credit line is anticipated to support expected sales growth in Jones' modern soda and adult beverage categories in 2025 and beyond.
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