Investing.com -- Fluent, Inc. (NASDAQ:FLNT) stock jumped 9.1% on Tuesday after the commerce media solutions provider announced it had secured a new $30 million financing facility with Bay View Funding, a subsidiary of Heritage Bank of Commerce.
The new agreement is collateralized by all assets of Fluent and its subsidiaries but carries no liquidity or financial covenants. According to the company, the facility provides expanded borrowing availability compared to Fluent’s previous credit facility with SLR Credit Solutions, which has now been fully repaid.
Ryan Perfit, Chief Financial Officer of Fluent, noted that the new facility enhances the company’s financial flexibility and liquidity, supporting continued investment in the growth of its commerce media business.
The market responded positively to the announcement, with investors apparently viewing the new financing arrangement as a favorable development for the company’s operational capabilities and growth prospects.
Fluent describes itself as a leading provider of commerce media solutions, focusing on helping brands connect with consumers through its proprietary platforms.
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