Singing Machine Secures $2 Million Senior Credit Facility

April 3, 2024

https://www.globenewswire.com/news-release/2024/04/03/2856773/0/en/Singing-Machine-Secures-2-Million-Senior-Credit-Facility.html

Company Expands Non-Dilutive Working Capital Funding to Support Growth

Fort Lauderdale, FL, April 03, 2024 (GLOBE NEWSWIRE) — The Singing Machine Company, Inc. (“Singing Machine”) (NASDAQ: MICS) – the worldwide leader in consumer karaoke products, today announced the closing of a $2 million senior credit facility with Oxford Commercial Finance, a subsidiary of Oxford Bank. The credit facility has a 2-year term and is intended to support the funding of accounts receivable generated from ongoing sales.

Read more at globenewswire.com

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