Gulf Atlantic Capital Doubles the Working Capital Facility for Pharmaceutical Distributor
South Pointe Wholesale, Inc.
Glasgow, Kentucky
$8,000,000 Working Capital Line of Credit
Gulf Atlantic Capital acted as investment banker in securing a new working capital line of credit for the Company.
Gulf Atlantic Capital Recapitalizes South Pointe Wholesale, Nearly Doubling the Company’s Working Capital Facility
Gulf Atlantic Capital was retained by South Pointe after the Company’s existing lender placed the Company in special assets after a one-time event resulted in a more than $1.5 million loss.
Negotiated a forbearance agreement with the existing lender to provide funding and time needed to restructure operations and bring in a new lender.
Introduced the Company to funding sources and negotiated the terms of the financing.
Closed on new working capital facility that provided $3 million of increased availability to fund growth.
