Maris-Tech secures $4M line of credit from Israeli commercial bank

Maris-Tech (MTEK) has secured a $4M line of credit from a leading Israeli commercial bank for a period of 12 months from the date of the agreement. The line of credit is on accepted commercial terms for similarly-sized companies and includes fixed and floating liens on the Company’s assets, customary economic and restrictive covenants by the Company, its U.S. subsidiary and agreement by two shareholders of the Company to certain subordination restrictions concerning loans they have provided to the Company. The line of credit will allow the Company the ability to take advantage of strategic opportunities and increase its commercial activity, without diluting the Company’s shareholders.