Heritage Global Inc. Enters $10M Revolving Credit Facility with C3bank

What Happened
Heritage Global Inc. announced on September 16, 2026 that it entered into a promissory note, business loan agreement and commercial security agreement (the “New Credit Facility”) with C3bank, National Association. The facility provides a $10.0 million revolving line of credit for the Company’s business operations and matures on January 16, 2028. Interest accrues at the WSJ prime rate plus 1.00%, but not less than 7.50% per annum, and the agreement includes an annual unused line fee payable quarterly beginning September 16, 2026. The debt is secured by a security interest in certain current and future tangible and intangible assets of the Company and certain subsidiaries and by a pledge of subsidiary equity. The filing also notes the creation of a direct financial obligation under Item 2.03.

Key Details

• $10.0 million revolving credit facility with C3bank, N.A.; borrower: Heritage Global Inc.
• Maturity date: January 16, 2028.
• Interest: WSJ prime + 1.00%, floored at 7.50% per year.
• Secured by Company and certain subsidiaries’ assets and a pledge of subsidiary equity; includes customary affirmative and negative covenants and an annual unused line fee payable quarterly.
• Availability of additional draws conditioned on customary representations, absence of defaults, and compliance with covenants; facility agreements to be filed as exhibits to the Company’s 10-Q for the quarter ended September 30, 2026.

Why It Matters
This facility provides Heritage Global with $10M of committed liquidity for operations, which can support working capital or near‑term needs. Because the loan is secured and contains financial and negative covenants, it creates a new secured obligation that may limit the Company’s flexibility to incur additional debt or encumber assets. Investors should watch interest expense (notably the 7.50% floor) and covenant compliance disclosed in upcoming periodic reports, since those factors affect cash flow and financial flexibility.