Heritage Global Inc. has entered into a new credit agreement with C3bank, National Association, as disclosed in a filing dated September 16, 2026. The agreement, finalized on that date, establishes a $10.0 million revolving line of credit. The company is permitted to utilize the proceeds exclusively for its business operations.
The revolving credit facility is set to mature on January 16, 2028. Interest on the facility is calculated as a variable rate based on the prime rate quoted by The Wall Street Journal, plus a margin of 1.00%. The interest rate is subject to a floor of 7.500% per annum. Additionally, the company is required to pay an annual unused line fee, which is payable quarterly in arrears within ten days of each payment period.
The credit facility is secured by a security interest in the company’s and its subsidiaries' tangible and intangible assets, including inventory, chattel paper, accounts, equipment, and general intangibles. It also includes a pledge of the equity of the direct and indirect subsidiaries. The availability of additional funds under the facility is contingent upon the company's compliance with customary representations, warranties, and financial covenants. These covenants include restrictions on the company's ability to incur additional indebtedness or encumber assets.
Heritage Global Inc. is registered in Florida and operates from its principal executive offices in San Diego, California. The company’s common stock trades on The Nasdaq Stock Market LLC under the ticker symbol HGBL.
