Managed cybersecurity and IT enablement services providing company High Wire Networks Inc (OTCMKTS:HWNI) could well be a company to keep an eye on at this point in light of the development from yesterday.
Trading Data
On Wednesday, HWNI stock slid 0.46% to $0.1090 with more than 47.39K shares, compared to volume of 189.26K shares. The stock moved within a range of $0.1056 – 0.1100 after opening trade at $0.1100.
High Wire Networks Renews $9 Million Credit Facility Under More Favorable Terms
On Wednesday, the company announced that it had managed to renew and expand its $5 million credit facility to $9 million. In addition to that, the company also managed to get more favorable terms from the provider. That was a significant new development for the company since higher credit availability and better terms could always help a business in a big way in the long run.
It was announced yesterday that the expanded and renewed facility would have a fee structure and interest rate, which would be 40% cheaper than the previous arrangement. It would also provide the company with the sort of financial flexibility that had not been available to it for a long time.
Mark Porter, the Chief Executive Officer of the company, spoke about the matter as well. He noted that it provides High Wire Networks with considerable flexibility and liquidity, which would help the company in addressing the positive trends in the marketplace that it had been noticing.
