Altitude International closes on $15 million term loan with FVP

Chicago, Sept. 8 – Altitude International Holdings, Inc. signed for a $15 million term loan with co-borrower Trident Water, LLC on Sept. 2 that lists FVP Servicing, LLC as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

Interest will be SOFR plus 1300 basis points, subject to a 2% SOFR floor.

The loan matures on Sept. 2, 2025, with an option to extend an additional year if certain conditions are met.

FVP will also receive 102,754,802 restricted shares of common stock of the company.

Altitude closed on a purchase of the property formerly known as Club Med Sandpiper Bay in Port St. Lucie, Fla. On Sept. 2.

Altitude is a holding company composed of performance-based businesses with headquarters in Port St. Lucie.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.