AudioEye (AEYE) said Tuesday it secured a $20 million loan facility from Bridge Bank, a division of Western Alliance Bancorporation (WAL).
The facility comprises a $12 million term loan, expected to repay the company's existing 2023 term loan and bolster its cash position, according to AudioEye.
It added that the $3 million revolving line of credit and a $5 million delayed draw term loan are available for potential strategic acquisitions.
The company said the loan facility will mature five years after the closing.
Shares of AudioEye were up 5% in after-hours trading.
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