Financial Flexibility and Growth Initiatives - Lincoln Educational Services Corporation has amended its secured credit agreement with Fifth Third Bank, increasing the aggregate principal borrowing amount from $40 million to $60 million, enhancing the company's financial flexibility [1] - The maturity date of the credit agreement has been extended through March 7, 2028, allowing for longer-term planning and investment [1] - The accordion feature of the agreement has been expanded from $20 million to $25 million, further strengthening the company's ability to pursue growth opportunities [2] Leadership Perspective - The President and CEO, Scott M. Shaw, emphasized that the amendment provides additional financial flexibility and ensures the company can achieve its long-term growth objectives, highlighting a focus on delivering value to stakeholders [3] Company Overview - Lincoln Educational Services Corporation is a leading provider of diversified career-oriented post-secondary education, addressing America's skills gap through various programs [3] - The company operates 21 campuses in 12 states under multiple brand names, including Lincoln College of Technology and Lincoln Technical Institute, and has been providing skilled technicians since 1946 [3]
Lincoln Educational Services Expands Credit Facility to Support Growth Initiatives