Mace(R) Security International, a Global Leader in Personal Self-Defense Sprays, Announces Additional Unsecured Subordinated Funding
Mace Security International (OTCQB:MACE), a global leader in personal self-defense sprays, announced an additional unsecured subordinated loan of $100,000 from a Board member on May 23, 2024. The initial draw was $20,000. The loan matures on the sooner of July 27, 2025, or when the company's senior line of credit is repaid, and it bears an interest rate of 10% per annum. This funding will be drawn down as needed.
Mace Security International is well-known for its personal safety and security products, including defense sprays and tactical products under various brands like Mace, Mace Take Down, KUROS!, Vigilant, and Tornado. The company distributes its products through numerous channels, including mass market retailers, Amazon, and its website.
- Secured an additional $100,000 in funding, boosting financial liquidity.
- The loan has a favorable interest rate of 10% per annum.
- The maturity date of July 27, 2025, provides ample time for repayment.
- Initial draw of $20,000 ensures immediate financial support.
- Funding will be drawn down as necessary, providing flexibility in cash flow management.
- The loan is unsecured and subordinated, potentially increasing financial risk.
- No conversion feature in the loan, limiting financial maneuverability.
- 10% interest rate could add significant cost over time.
- Dependence on debt financing may indicate underlying financial challenges.
CLEVELAND, OH / ACCESSWIRE / May 30, 2024 / Mace® Security International (OTCQB:MACE) today announced that it obtained a
About Mace Security International, Inc.
Mace® Security International, Inc. (MACE) is a globally recognized leader in personal safety and security. Based in Cleveland, Ohio, the Company has spent more than 40 years designing and manufacturing consumer and tactical products for personal defense and security under its world-renowned Mace® Brand - the original trusted brand of defense spray products. The Company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® Take Down® brand, KUROS!® Brand personal safety products, Vigilant® Brand alarms, and Tornado® Brand pepper spray and stun guns. MACE® distributes and supports Mace® Brand products through mass market retailers, wholesale distributors, independent dealers, Amazon.com, Mace.com, and other channels. For more information, visit www.mace.com.
Forward-Looking Statements
Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. When used, the words or phrases "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "projected," "intend to" or similar expressions are intended to identify "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to several known and unknown risks and uncertainties that may cause our actual results, trends, performance or achievements, or industry trends and results, to differ materially from the future results, trends, performance, or achievements expressed or implied by such forward-looking statements. Those risks and uncertainties may include, but are not limited to, (a) general economic and business conditions, including the impact of the COVID-19 pandemic and other possible pandemics and similar outbreaks; (b) competition; (c) potential changes in customer spending; (d) acceptance of our product offerings and designs; (e) the variability of consumer spending resulting from changes in domestic economic activity; (f) a highly promotional retail environment; (g) any significant variations between actual amounts and the amounts estimated for those matters identified as our critical accounting estimates, as well as other significant accounting estimates made in the preparation of our financial statements; (h) the impact of current and potential hostilities in various parts of the world, including but not limited to the war which resulted from Russia's invasion of Ukraine, as well as other geopolitical or public health concerns; (i) the impact of international supply chain disruptions and delays; (j) the impact on the Company of changes in U.S. Federal and State income tax regulations; and (k) the impact of inflation and the ability of the Company to pass on rising prices to its customers. You are urged to consider all such factors. Because of the uncertainty inherent in such forward-looking statements, you should not consider their inclusion to be a representation that such forward-looking matters will be achieved. Mace Security International, Inc. assumes no obligation for updating any such forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking statements.
Contact:
Investor Relations
InvestorRelations@mace.com
SOURCE: MACE SECURITY INTERNATIONAL INC
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FAQ
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