USA: Peapod Secures Financing Focuses on Attaining Profitability
Peapod, Inc. (NASDAQ: PPOD) today announced it has increased its $20 million credit facility with Ahold to $50 million, on the same terms of LIBOR plus two percent. The Company said that with the approximately $14.7 million in cash and cash equivalents on hand at the beginning of the 2001 year, the $50 million credit facility provides Peapod with over $60 million in cash resources for operations.
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