Coin Cloud seeks approval of $5 million DIP facility via CKDL Credit

By Sarah Lizee

Olympia, Wash., Feb. 9 – Cash Cloud, Inc., which does business as Coin Cloud, is seeking approval of a $5 million debtor-in-possession facility via CKDL Credit, LLC, according to a motion filed Wednesday with the U.S. Bankruptcy Court for the District of Nevada.

Interest on the facility is 15% per annum, payable in kind. The default rate would be 20% PIK.

The company is seeking interim access to $3 million of the facility.

A hearing is scheduled for Feb. 15.

The Las Vegas-based digital currency machine company filed bankruptcy on Feb. 7 under Chapter 11 case number 23-10423.

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