Brief: AMCON Says Would Contribute $10 Mln In Cash Of Which $6.5 Mln Is Structured As Equity And $3.5 Mln As Secured Line Of Credit To Team Sledd

Amcon Distributing Co

03/01/2020 22:03

Jan 3 (Reuters) - AMCON Distributing Co  DIT.A :
    * AMCON -  WOULD CONTRIBUTE $10.0 MILLION IN CASH OF WHICH
$6.5
MILLION IS STRUCTURED AS EQUITY AND $3.5 MILLION AS A SECURED
LINE OF CREDIT TO TEAM SLEDD
    * AMCON -  WILL FUND ITS CONTRIBUTION TO TEAM SLEDD FROM
AMCON'S
REVOLVING CREDIT FACILITY
    * AMCON -  CHAS. M. SLEDD CO INITIALLY WOULD OWN A MAJORITY
OF THE
OUTSTANDING EQUITY OF TEAM SLEDD

Source: (https://bit.ly/2MUQFsu)
Further company coverage:  DIT.A 

 ((Reuters.Briefs@thomsonreuters.com;))