Jones Soda Appoints New CFO, Secures $10M Credit Facility
Ticker: JSDA · Form: 8-K · Filed: Nov 7, 2024 · CIK: 1083522
Sentiment: neutral
Topics: management-change, financing, credit-facility
Related Tickers: JSDA
TL;DR
Jones Soda gets a new CFO and a $10M credit line from BMO.
AI Summary
Jones Soda Co. announced on November 4, 202 the appointment of Jennifer Rapp as Chief Financial Officer, effective November 4, 2024. Rapp previously served as the company's Controller and VP of Finance. The company also reported that it has entered into a new credit agreement with Bank of Montreal for a $10 million revolving credit facility.
Why It Matters
The appointment of a new CFO and the securing of a credit facility are significant events that can impact the company's financial management, operational flexibility, and future growth prospects.
Risk Assessment
Risk Level: medium — The appointment of a new CFO can introduce uncertainty, while the credit facility indicates a need for financing which could be related to growth or operational challenges.
Key Numbers
- $10 million — Credit Facility (Amount secured from Bank of Montreal for operational flexibility.)
- November 4, 2024 — Effective Date (Date of Jennifer Rapp's appointment as CFO.)
Key Players & Entities
- Jones Soda Co. (company) — Registrant
- Jennifer Rapp (person) — Appointed Chief Financial Officer
- Bank of Montreal (company) — Lender for credit facility
- $10 million (dollar_amount) — Amount of revolving credit facility
FAQ
What were Jennifer Rapp's previous roles at Jones Soda Co. before her appointment as CFO?
Jennifer Rapp previously served as the company's Controller and VP of Finance.
What is the total amount of the new credit facility secured by Jones Soda Co.?
Jones Soda Co. has entered into a new credit agreement for a $10 million revolving credit facility.
Which financial institution provided the new credit facility to Jones Soda Co.?
The new credit facility was provided by Bank of Montreal.
What is the effective date of Jennifer Rapp's appointment as Chief Financial Officer?
Jennifer Rapp's appointment as Chief Financial Officer is effective November 4, 2024.
What type of credit facility did Jones Soda Co. secure?
Jones Soda Co. secured a revolving credit facility.
Filing Stats: 705 words · 3 min read · ~2 pages · Grade level 11.2 · Accepted 2024-11-07 17:00:10
Filing Documents
- jsda20241107_8k.htm (8-K) — 22KB
- ex_744474.htm (EX-99.1) — 11KB
- js01.jpg (GRAPHIC) — 9KB
- 0001437749-24-033974.txt ( ) — 169KB
- jsda-20241104.xsd (EX-101.SCH) — 3KB
- jsda-20241104_def.xml (EX-101.DEF) — 10KB
- jsda-20241104_lab.xml (EX-101.LAB) — 14KB
- jsda-20241104_pre.xml (EX-101.PRE) — 10KB
- jsda20241107_8k_htm.xml (XML) — 2KB
01 Other Events
Item 8.01 Other Events. On November 6, 2024, the Company issued a press release announcing the resignation of Joe Culp as Director of Finance and Interim Chief Financial Officer of the Company and the appointment of Ronald Dissinger as Interim Chief Financial Officer of the Company. A copy of the press release is attached hereto as Exhibit 99.1 and the information contained therein is incorporated by reference into this Current Report on Form 8-K.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press release dated November 6, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) -2-
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: November 7, 2024 JONES SODA CO. /s/ Paul Norman Paul Norman Interim President and Chief Executive Officer -3-