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About Rainier

PC gamer, WorthPlaying EIC, globe-trotting couch potato, patriot, '80s headbanger, movie watcher, music lover, foodie and man in black -- squirrel!

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Atari Secures Additional Funding

by Rainier on Nov. 8, 2006 @ 5:06 a.m. PST

Atari announced that it has entered into a new three-year secured revolving credit facility with Guggenheim Corporate Funding, as the administrative agent to a syndicate of lenders, which provides up to $15 million of credit availability based upon accounts receivables.

Atari expects that the Guggenheim credit facility will provide funding for its current and reasonably foreseeable capital requirements as it relates to working capital needs in the ordinary course of business.

"The Guggenheim facility provides Atari with the working capital flexibility to support our day-to-day operations," stated David Pierce, President and Chief Executive Officer. "Guggenheim is a prestigious financial partner and Atari looks forward to building on this partnership as we continue to execute on our strategy."

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