Funko, Inc. Completes Credit Facility Amendment and Extension
September 27 2019 - 8:30AM
Funko, Inc. (Nasdaq: FNKO) (“Funko” or “the Company”), a leading
pop culture consumer products company, announced that certain of
its subsidiaries entered into a Second Amendment to their existing
Credit Agreement (the “Amendment”) that will reduce the interest
margin by 75 basis points as a result of the Company’s strong
performance over the past year.
"The Amendment will meaningfully reduce our cost of borrowing,"
said Jennifer Fall Jung, Chief Financial Officer. “We saw an
opportunity to amend our credit facility due to the combined
factors of a favorable debt market and the Company’s strong
financial performance over this past year.”
In addition, the Amendment extends the maturity of the credit
facility by approximately one year, among other changes.
Additional details regarding the Amendment are set forth in the
Company’s Current Report on Form 8-K, filed with the Securities and
Exchange Commission on September 24, 2019.
About Funko
Headquartered in Everett, Washington, Funko is a leading pop
culture consumer products company. Funko designs, sources and
distributes licensed pop culture products across multiple
categories, including vinyl figures, action toys, board games,
plush, apparel, housewares and accessories for consumers who seek
tangible ways to connect with their favorite pop culture brands and
characters. Learn more at https://funko.com/, and follow us on
Twitter (@OriginalFunko) and Instagram (@OriginalFunko).
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements contained in this press release that do not
relate to matters of historical fact should be considered
forward-looking statements, including statements regarding the
extension and amendment to the Company’s existing credit facility.
These forward-looking statements are based on management’s current
expectations. These statements are neither promises nor guarantees,
but involve known and unknown risks, uncertainties and other
important factors that may cause our actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements, including, but not limited to, the
factors discussed under the caption “Risk Factors” in the
prospectus supplement filed with the SEC on September 19, 2019 and
our other filings with the SEC, any of which could cause actual
results to differ materially from those indicated by the
forward-looking statements made in this press release. Any such
forward-looking statements represent management’s estimates as of
the date of this press release. While we may elect to update such
forward-looking statements at some point in the future, we disclaim
any obligation to do so, even if subsequent events cause our views
to change. These forward-looking statements should not be relied
upon as representing our views as of any date subsequent to the
date of this press release.
Investor Relations:
Andrew HarlessInvestor Relationsandrewh@funko.com
Media:
Jessica PihaDirector of Corporate Communications &
PRjessicap@funko.com
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