Parametric Sound closes on new USD60m credit facility

Parametric Sound Corp. (NASDAQ: PAMT) said it has entered into a new five year USD60m asset-based revolving credit facility with Bank of America.

The new credit facility replaces Parametric Sound Corp.´s previous credit facility and will provide improved and expanded funding for both US and European operations.

“The new credit facility will allow us to better finance our international operations, which is an important growth vehicle of our gaming headset business,” said Juergen Stark, CEO of Parametric Sound Corp.. “Securing financing that is properly aligned with our business and our long-term growth strategy is an important milestone for our company and we are delighted to be working with Bank of America.”

Parametric Sound Corp. is an audio technology company that markets innovative products under the Turtle Beach and HyperSound brands.

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