Jamba, Inc. Completes $25 Million Financing Agreement
Emeryville, Calif., (BUSINESS WIRE) -- Jamba, Inc. (NASDAQ: JMBA; NASDAQ:JMBAU; NASDAQ:JMBAW) today announced that it has completed its previously announced financing agreement for a $25 million two-year senior secured term note. Entities managed by Victory Park Capital Advisors, LLC were the sole investors in the transaction. Details of the transaction can be found in the Company's 8-K which will be filed with the SEC.
"We are pleased to have completed this financing which provides us greater financial flexibility to execute our business plan," said Steven R. Berrard, the Chief Executive Officer and President of Jamba, Inc.
About Jamba, Inc.
Jamba, Inc. (NASDAQ:JMBA; NASDAQ:JMBAU; NASDAQ:JMBAW) is a holding company and through its wholly-owned subsidiary, Jamba Juice Company, owns and franchises JAMBA JUICE(R) stores. JAMBA JUICE is the leading blender of fruit and other naturally healthy ingredients. Founded in 1990, Jamba strives to inspire and simplify healthy living for its customers and employees. As of July 15, 2008, JAMBA JUICE had 736 stores, of which 518 were company-owned and operated. For the nearest location or a complete menu including our breakfast smoothies with organic granola, please call: 1-866-4R-FRUIT or visit the JAMBA JUICE website at www.jamba.com. Look for Jamba's ready-to-drink Jamba(R) bottled Smoothies and Juicies on grocery store shelves.
About Victory Park Capital Advisors, LLC
Victory Park Capital Advisors, LLC is a Chicago-based alternative investment firm that combines asset based funding and progressive investment methods to deliver custom financing solutions to small-cap and lower middle market companies.
This press release (including information incorporated or deemed incorporated by reference herein) contains "forward-looking statements" within the meaning of the Private Litigation Reform Act of 1995. Forward-looking statements are those involving future events and future results that are based on current expectations, estimates, forecasts, and projects as well as the current beliefs and assumptions of our management. Words such as "outlook", "believes", "expects", "appears", "may", "will", "should", "anticipates", or the negative thereof or comparable terminology, are intended to identify such forward looking statements. Any statement that is not a historical fact, including estimates, projections, future trends and the outcome of events that have not yet occurred, is a forward-looking statement. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions that are difficult to predict. Therefore actual results may differ materially and adversely from those expressed in any forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, those discussed under the section entitled "Risk Factors" in our reports filed with the SEC. Many of such factors relate to events and circumstances that are beyond our control. You should not place undue reliance on forward-looking statements. The Company does not assume any obligation to update the information contained in this press release.
SOURCE: Jamba, Inc.