TAMPA, Fla., Sept. 8, 2014 (GLOBE NEWSWIRE) — Jagged Peak, Inc.
(OTCBB:JGPK), a leading provider of enterprise-class e-commerce
solutions and supply chain services, announced that on September 5 it
entered into a $2 million term loan with Fifth Third Bank. In addition,
Jagged Peak amended its $5 million senior credit facility with Fifth
Third Bank to extend its maturity from August 2015 to September 2016.
The term loan provides for $2 million at an interest rate of LIBOR plus
2.5%. The term loan matures in September 2018. The senior credit
facility provides a revolving line of credit with a maturity of two
years and a maximum borrowing capacity of $5 million.
“The new term loan, in addition to our senior credit facility, has
expanded our financial flexibility,” says Jagged Peak CFO Albert
Narvades. “Fifth Third Bank’s understanding of our business and support
have been critical to our growth.”
About Jagged Peak
Jagged Peak is a leading e-commerce solutions provider with software
and services that enhance the scalability, flexibility and
profitability of multi-channel online businesses. Its cornerstone
technology is EDGE—an enterprise-class e-commerce platform that
includes a full-featured e-commerce Platform (ECP) and robust Order
Management System (OMS) as well as a Warehouse Management System (WMS)
and Transportation Management System (TMS). These platform elements can
be deployed alone or together through a license or SaaS delivery model
to form an end-to-end, Cloud-based software suite that integrates the
entire order life cycle with visibility across business units,
distribution channels and trading partners—all while enabling the
client to have complete control of its online brand. Combining its
technology with a comprehensive array of eMarketing, customer support
and IT professional services along with “anytime, anywhere” order
fulfillment through its FlexNet warehouse network, Jagged Peak offers a
rare and uniquely holistic approach to e-commerce. Jagged Peak’s blue
chip client roster includes numerous global consumer brand companies.
For more information, please visit www.jaggedpeak.com.
This release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements involve risks and uncertainties. Factors
that could cause actual results to differ materially from those
predicted in any such forward-looking statement include our ability to
continue to lower our costs, our timely development and customers’
acceptance of our products, including acceptance by key customers,
pricing pressures, rapid technological changes in the industry, growth
of the market, increased competition, our ability to attract and retain
qualified personnel, adverse changes in general economic conditions in
the U.S. and internationally, risks associated with foreign operations
and political and economic uncertainties associated with current world
events. These and other risks are detailed from time to time in the
Jagged Peak, Inc. periodic reports filed with the Securities and
Exchange Commission, including, but not limited to, its report on Form
10-K for its fiscal year ended December 28, 2013.