February 15, 2017
On February 15, 2017, TheRedPin.com, Inc., a Toronto-based high tech real estate brokerage arranged gap debt financing with Firepower Capital. The value of the financing was not disclosed.
Gap debt characterizes loans of $0.5 – 5 million to growing companies that have strong operating cash flows, or have exceptional short-term visibility into those cash flows, but with limited tangible assets. In other words, they are promising companies that fall outside the parameters of traditional lenders.
Miller Thomson advised TheRedPin in the negotiation of this financing with a team that included Robert Stewart, Corey Yermus and Shaun Parekh.
