12:58 PM EDT, 08/30/2024 (MT Newswires) -- Edgio ( EGIO ) shares fell over 19% in recent trading Friday after the company said it has secured a roughly $9.1 million senior secured term loan credit facility under a priority credit agreement with Lynrock.

The loan, with net cash proceeds of $7.5 million after fees, carries a 19.5% annual interest rate and matures in February 2025, Edgio ( EGIO ) said in a regulatory filing.

The credit facility is prioritized over existing debt and will be used for working capital, Edgio ( EGIO ) said.

Price: 7.49, Change: -1.80, Percent Change: -19.38