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Summary
Salem Partners, LLC (“Salem”) is pleased to announce the closing of a $75 million term loan and revolving credit facility (the “Facility”) on December 23, 2024 for Clipper Media Holdings, Inc. (“Clipper " or the “Company”). Seacoast National Bank served as agent bank for a group of lenders to the Company, and Salem advised Clipper and structured the transaction on behalf of the Company.
Clipper hired Salem on an exclusive basis to structure, source and close the Facility for the purpose of refinancing its existing loan facility with Blue Torch Capital, a private lender. In closing the Facility, Clipper significantly reduced its cost of capital and increased its financial flexibility.
Salem Clipper Investors, LLC (Salem Partners) is an equity investor in Clipper, and a principal of Salem is an observer on the Company’s board of directors.