Tiptree early prepays credit agreement with Fortress Credit

Chicago, June 21 – Tiptree Inc. early prepaid its credit agreement from Feb. 21, 2020 with Fortress Credit Corp. as administrative agent, collateral agent and lead arranger, according to an 8-K filing with the Securities and Exchange Commission.

Pursuant to the payoff letter, the company paid a total of $113,202,343.75 and the loan was satisfied in full.

The company used funding from a strategic investment for $200 million with WP Falcon Aggregator, LP to pay off the loan.

The company issued common stock, warrants and preferred shares in return for the strategic investment.

Tiptree is a New York-based company that provides insurance and insurance services, real estate, asset management and specialty finance services.

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