Aterian, Inc. Signs $50 Million Credit Facility with MidCap Financial Trust
December 27, 2021 at 07:00 am EST
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Aterian, Inc. has signed an asset backed credit facility with MidCap Financial Trust (“MidCap”), which is managed by a subsidiary of Apollo Global Management, Inc. The credit facility has a three year term and gives Aterian access to up to $50 million in total credit, consisting of $40 million in commitments with an accordion facility of an additional $10 million. On the closing, Aterian has repaid in cash and satisfied all outstanding obligations under its existing $25.0 million term loan with High Trail.
Aterian, Inc. is a technology-enabled consumer products company. The Company builds and acquires e-commerce brands. The Companyâs primary brands include Squatty Potty; hOmeLabs; Mueller; Pursteam; Healing Solutions; and Photo Paper Direct. The Company sells a wide range of products across multiple categories, including home and kitchen appliances, kitchenware, cooling, and air quality appliances such as dehumidifiers, health and beauty products, essential oils and more. These products are sold under the Companyâs owned brands, which were either incubated or acquired. Its customers are mainly individual online consumers who purchase its products primarily on Amazon United States, and to a lesser extent on its owned and operated websites and other marketplaces, such as Walmart. The Company's subsidiaries include Aterian Group, Inc., Xtava LLC, Sunlabz LLC, RIF6 LLC, SweetHomeDealz LLC, Products for Change, LLC, Commerce Planet, LLC, Chromatic Jammer, LLC, Rencare, LLC, among others.
ATERIAN, INC. 
