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Tribe Property Technologies ( (TSE:TRBE) ) has issued an update.
Tribe Property Technologies has secured a new senior loan facility of up to $15 million with CIBC, replacing its existing loan facility. This new agreement provides Tribe with enhanced financial flexibility, lower borrowing costs, and improved access to non-dilutive capital, supporting its strategic growth and financial discipline. The facility includes a $3 million revolving operating line and a $12 million revolving M&A facility, which will aid in strategic acquisitions and reduce the company’s reliance on vendor take-back obligations. This move is expected to strengthen Tribe’s balance sheet and optimize acquisition structures, furthering its commitment to financial discipline and strategic growth.
The most recent analyst rating on (TSE:TRBE) stock is a Buy with a C$0.75 price target. To see the full list of analyst forecasts on Tribe Property Technologies stock, see the TSE:TRBE Stock Forecast page.
More about Tribe Property Technologies
Tribe Property Technologies is a property technology company that is revolutionizing the traditional property management industry. It employs a tech-forward approach to property management, offering an integrated service-technology delivery model that caters to a broader range of stakeholders compared to traditional providers. Tribe focuses on acquiring and transforming businesses in the fragmented North American property management industry through streamlining and digitization, which helps reduce customer acquisition costs, increase retention, and add value-added products and services.
Average Trading Volume: 61,498
Technical Sentiment Signal: Sell
Current Market Cap: C$13.01M
See more data about TRBE stock on TipRanks’ Stock Analysis page.