Quipt Home Medical Announces Closing of Upsized Senior Credit Facilities for $110 Million to Accelerate Future Growth

CINCINNATI, Sept. 19, 2022 (GLOBE NEWSWIRE) -- Quipt Home Medical Corp. (“Quipt” or the “Company”) (NASDAQ:QIPT; TSXV:QIPT), a U.S. based leader in the home medical equipment industry, focused on end-to-end respiratory care, is very pleased to announce the closing of $110,000,000 in senior secured credit facilities with CIT Bank, N.A. (“CIT”), a division of First-Citizens Bank & Trust Company. The senior secured credit facilities are in the aggregate amount of $110,000,000 (comprised of a term loan facility in an aggregate principal amount of $5,000,000, a delayed draw term loan facility in an aggregate principal amount of $85,000,000 and a revolving credit facility in an aggregate principal amount of $20,000,000 (collectively, the “Senior Credit Facilities”)). The Company originally announced this transaction on August 15, 2022 when it executed a binding commitment letter with CIT for up to $80,000,000 in Senior Credit Facilities. However, as a result of strong demand from CIT and its syndicate of lenders the Senior Credit Facilities were increased.

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