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Neptune Wellness Solutions Inc(NEPT-Q)

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Neptune Wellness' Organic Baby Food Brand, Sprout Organics, Secures Inventory Financing with Alterna Capital Solutions LLC - Wed May 10, 2023

The partnership expands Sprout's inventory line, increasing product variety and enhancing supply chain efficiency

LAVAL, QC and MONTVALE, N.J., May 10, 2023 /CNW/ - Neptune Wellness Solutions Inc. ("Neptune" or the "Company") (NASDAQ: NEPT), a consumer-packaged goods company focused on plant-based, sustainable and purpose-driven lifestyle brands, and Sprout Organics ("Sprout"), the Company's organic plant-based baby food and toddler snack company, today announced that it has secured inventory financing through an Invoice Purchase and Security Agreement partnership with Alterna Capital Solutions LLC, effective April 21, 2023. The inventory line will provide Sprout with working capital for additional inventory to meet consumer demand and product line expansion. The maximum available has been amended to $7.5 million, from $5 million previously announced on January 25, 2023, adding a line of inventory to the accounts receivable factoring facility that is already in place.


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