Midlothian, Va. – Video game publisher SouthPeak Interactive
has secured a new $10 million line of credit with financial services firm
Rosenthal & Rosenthal.
The line, which will expire in Feb. 2012, could
increase as much as $3 million if stockholders’ equity also increases.
It replaces
a previous $8.0 million revolving line of credit with SunTrust Banks.
"Securing this additional credit provides us with greater financial
flexibility and presents a clear message to our investors that we are confident
of our business prospects and growth opportunities over the near- and
long-term," said Terry Phillips, SouthPeak’s chairman.
The company
currently develops games for all the major hardware platforms.
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