Friday, February 27, 2015 3:53:03 PM
It is obviously a way for MSLP to get out of what was an essentially $3M line of credit (as they had to be back at that amount at various times throughout the quarter) with the tough covenants that you pointed out.
Now they have $4M in cash that they can spend and do with however they want without having to worry about paying it down every quarter.
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