PALO ALTO, Calif.--(BUSINESS WIRE)--
Avidbank Corporate Finance, a Division of Avidbank that specializes in
technology and asset-based funding, has provided True Drinks, Inc. a
$2,000,000 term loan. The facility will be used to help the company fund
its projected growth.
True Drinks, Inc., located in Irvine, CA, is a healthy beverage provider
with major entertainment and media company licensing agreements for use
of their characters on its proprietary, patented bottles.
“I am pleased we were able to put this facility in place for True
Drinks,” stated Avidbank Corporate Finance Executive Vice President,
Mike Hansen. “They have assembled a high quality team with deep
experience in this field. We look forward to a strong and mutually
beneficial relationship.”
Dan Kerker, Chief Financial Officer of True Drinks, commented, “The
funding of this loan with Avidbank comes as the result of True Drinks
being in a much more secure financial position following our equity
raise last week. This note enables us to clean up our balance sheet by
paying off convertible notes. Avidbank understands our business and will
be a valuable partner for us as we continue to grow.”
About Avidbank
Avidbank Holdings, Inc. (OTCBB:AVBH), headquartered in Palo Alto,
California, offers innovative financial solutions and services. We
specialize in the following markets: commercial & industrial, corporate
finance, asset-based lending, real estate construction and commercial
real estate lending, and real estate bridge financing. Avidbank advances
the success of our clients by providing them with financial
opportunities and serving them as we wish to be served – with mutual
effort, ingenuity and trust – creating long-term banking relationships.
About True Drinks, Inc.
True Drinks, Inc. (OTCBB:TRUU) is a beverage company with licensing
agreements with major entertainment and media companies for use of their
characters on its proprietary, patented bottles. AquaBallTM
Naturally Flavored Water, the Company's vitamin-enhanced water that was
created as a 0 calorie, sugar-free alternative to juice and soda for
kids, is currently being sold into mass-market retailers throughout the
United States. For more information, please visit www.theaquaball.com
and www.truedrinks.com.
Avidbank Corporate Finance
Steve Leen, 650-843-2204
Chief
Financial Officer
www.avidbank.com
Source: Avidbank Corporate Finance