Entertainment Rewards Ltd (ASX:EAT) has secured an additional $2.5 million loan facility from Suzerain Investment Holdings Ltd, amending their existing $5.0 million loan agreement. This brings the total loan amount to $7.5 million. The terms and conditions remain consistent with the original agreement. The loan carries an interest rate of 13.0% per annum, with the principal and accrued interest due for repayment on December 31, 2026. Interest will accrue without compounding. A line fee of 1% annually on the outstanding principal is payable semi-annually in arrears. The loan remains unsecured.
According to Entertainment’s CEO, Heidi Halson, the loan aims to bolster the Company’s revenue pivot strategy and support continued revenue growth observed over the past four quarters. The company intends to focus on delivering a high-quality product and consumer experience, alongside revitalizing its fundraising distribution channel. Entertainment Rewards Ltd, operating through its Entertainment-branded subsidiaries, offers a marketplace connecting merchants seeking increased business with consumers pursuing entertainment and lifestyle experiences at discounted rates. The company generates revenue through member subscription fees and marketplace features, offering data-as-a-service and targeted campaign value to merchants, enterprises, and fundraising partners. Founded in 1994, Entertainment Rewards manages entertainment-related merchant content, providing data and campaign analytics.
