Avidbank Corporate Finance Provides a $2,000,000 Term Loan to True Drinks, Inc.
10 12월 2013 - 8:00PM
Business Wire
Avidbank Corporate Finance, a Division of Avidbank that
specializes in technology and asset-based funding, has provided
True Drinks, Inc. a $2,000,000 term loan. The facility will be used
to help the company fund its projected growth.
True Drinks, Inc., located in Irvine, CA, is a healthy beverage
provider with major entertainment and media company licensing
agreements for use of their characters on its proprietary, patented
bottles.
“I am pleased we were able to put this facility in place for
True Drinks,” stated Avidbank Corporate Finance Executive Vice
President, Mike Hansen. “They have assembled a high quality team
with deep experience in this field. We look forward to a strong and
mutually beneficial relationship.”
Dan Kerker, Chief Financial Officer of True Drinks, commented,
“The funding of this loan with Avidbank comes as the result of True
Drinks being in a much more secure financial position following our
equity raise last week. This note enables us to clean up our
balance sheet by paying off convertible notes. Avidbank understands
our business and will be a valuable partner for us as we continue
to grow.”
About Avidbank
Avidbank Holdings, Inc. (OTCBB:AVBH), headquartered in Palo
Alto, California, offers innovative financial solutions and
services. We specialize in the following markets: commercial &
industrial, corporate finance, asset-based lending, real estate
construction and commercial real estate lending, and real estate
bridge financing. Avidbank advances the success of our clients by
providing them with financial opportunities and serving them as we
wish to be served – with mutual effort, ingenuity and trust –
creating long-term banking relationships.
About True Drinks, Inc.
True Drinks, Inc. (OTCBB:TRUU) is a beverage company with
licensing agreements with major entertainment and media companies
for use of their characters on its proprietary, patented bottles.
AquaBallTM Naturally Flavored Water, the Company's vitamin-enhanced
water that was created as a 0 calorie, sugar-free alternative to
juice and soda for kids, is currently being sold into mass-market
retailers throughout the United States. For more information,
please visit www.theaquaball.com and www.truedrinks.com.
Avidbank Corporate FinanceSteve Leen, 650-843-2204Chief
Financial Officerwww.avidbank.com
Avidbank (PK) (USOTC:AVBH)
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Avidbank (PK) (USOTC:AVBH)
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