KIZIK AND JPMORGAN CHASE AMEND CREDIT AGREEMENT TO SUPPORT KIZIK'S FAST-PACED GROWTH

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Dec 06, 2023, 12:27 ET

The Hands-Free Footwear Innovator Fuels Retail and Wholesale Expansion as Revolver Capacity is Increased to $25 Million

LINDON, Utah, Dec. 6, 2023 /PRNewswire/ -- Kizik, the leading footwear company known for its innovative hands-free designs, is pleased to announce the successful amendment of its credit facility with JPMorgan Chase.

The amended credit facility provides Kizik with enhanced financial flexibility and positions the company for continued fast-paced growth into new distribution channels, including company-owned retail stores, U.S. wholesale, and international markets. The amendment increases Kizik's revolver capacity from $10 million to $25 million, with the potential to further expand to $50 million during the term of the agreement.

Monte Deere, Kizik's CEO, expressed gratitude for JPMorgan Chase's continued support: "This amended credit facility is a testament to the strong and collaborative relationship we have built with JPMorgan Chase. It not only reflects our business strategy and financial performance but also empowers us to pursue new opportunities as we make hands-free footwear available to more people in more places."

JPMorgan Chase echoes this sentiment. "We're proud to work with Kizik on this amended credit facility and support the company's continued growth as an innovator in the hands-free footwear space," said Leo Gutierrez, Utah Market Executive for JPMorgan Chase's Middle Market Banking & Specialized Industries business.

With the expanded credit facility in place, Kizik looks forward to a future of accelerated growth and continued innovation as the leader of hands-free footwear.

Based in Lindon, Utah, Kizik is the industry's leading hands-free footwear brand, boasting more than 180 pending and granted patents. Powered by relentless innovation, Kizik is a catalyst for endless momentum, using hands-free footwear to propel consumers' frictionless freedom to go, see, do, and explore—to find the magic in motion. Offering stylish silhouettes for men, women, and kids, Kizik's hands-free footwear truly is for everyone. To learn more, visit kizik.com and follow @wearkizik.

SOURCE Kizik