Andersen Group subsidiary enters $50M asset-based revolver with JPMorgan, 3-year maturity

Andersen Group Inc.

$50M revolving credit facility; borrowing base up to 85% of eligible time & materials receivables under 120 days.
Matures 3 years from June 25, 2026; interest at Term SOFR plus 175bps; unused line fee 25bps.
Sublimit of $5M for letters of credit; one LC of ~$1.3M issued.
Guaranteed by Andersen Group Inc. and other Loan Parties; secured by first lien on all assets of Loan Parties.
Springing minimum 1.00x fixed charge coverage ratio triggered if availability <25% of line cap (floor $6M).

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