INX Increases Senior Credit Facility to $70 Million
December 23 2009 - 6:00AM
Business Wire
INX Inc. (Nasdaq:INXI) today announced that it has increased its
senior credit facility with Castle Pines Capital LLC ("CPC") used
primarily for inventory floor plan financing and working capital
requirements to $70 million from $60 million.
Commenting on the new credit facility, Brian Fontana, INX’s
Chief Financial Officer, stated, “We are pleased with our
long-term, close working relationship with Castle Pines Capital and
their continued support of our business objectives. The increased
capacity under our primary operating credit facility will provide
for continued future growth and liquidity needs.”
“INX has grown substantially during our relationship and has
demonstrated significant growth as a company focused on enterprise
technology infrastructure solutions and services. We are pleased to
increase our financial capacity to INX, which provides them with
the capital they require in order to continue their impressive
long-term growth,” said Jim Merrill, CPC’s Senior Vice
President.
ABOUT INX INC.:
INX Inc. (NASDAQ:INXI) is a leading U.S. provider of IP network
communications and data center solutions for enterprise
organizations. INX offers a suite of advanced technology solutions
focused around the entire life-cycle of enterprise IP network
communications and data center infrastructure. Service offerings
are centered on the design, implementation and support of network
infrastructure, including routing and switching, wireless,
security, unified communications, and data center solutions such as
storage and server virtualization. Customers include enterprise
organizations such as corporations, as well as federal, state and
local governmental agencies. Because of its focus, expertise and
experience implementing and supporting advanced technology
solutions for enterprises, INX is well positioned to deliver
superior solutions and services to its customers. Additional
information about INX can be found on the Web at www.inxi.com.
ABOUT CASTLE PINES CAPITAL LLC:
Castle Pines Capital LLC is a privately held channel finance
company headquartered in Englewood, Colorado. With extensive domain
experience in network technology and finance industries, CPC
provides channel financing solutions to technology resellers and
distributors.
SAFE HARBOR STATEMENT:
The statements contained in this document that are not
statements of historical fact, including but not limited to,
statements identified by the use of terms such as "anticipate,"
"appear," "believe," "could," "estimate," "expect," "hope,"
"indicate," "intend," "likely," "may," "might," "plan,"
"potential," "project," "seek," "should," "will," "would," and
other variations or negative expressions of these terms, including
statements relating to INX’s continued growth, are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995 and involve a number of risks and uncertainties.
The actual results of the future events described in the
forward-looking statements in this document could differ materially
from those stated in the forward-looking statements due to numerous
factors, including the risks and uncertainties set forth from time
to time in the Company's public statements and its most recent
Annual Report filed with the SEC on Form 10-K for the year
2008.
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