X1 Capital forms subsidiary and secures $15 million credit line with Woodforest Bank

X1 Capital Inc. (OTC:XONE), a $3.6 billion market cap company with a "GOOD" InvestingPro Financial Health score, has formed a new subsidiary, CBT SF LLC, and entered into a $15 million credit agreement with Woodforest Bank, according to a statement filed with the Securities and Exchange Commission.

The filing states that CBT SF LLC will acquire participating interests in loans issued by banks, with a primary focus on the government-guaranteed portion of loans backed by the Small Business Administration (SBA (LON:SBA)) and the U.S. Department of Agriculture (USDA). The company maintains strong liquidity with a current ratio of 1.43, suggesting adequate resources for this new venture.

X1 Capital and its subsidiary signed the credit agreement with Woodforest Bank, which allows the company to draw up to $15 million in debt financing. The funds will be used to finance bridge loans and to purchase the government-guaranteed portion of SBA and USDA loans.

In addition to the credit facility, CBT SF LLC has raised non-debt financing from a third party to purchase participating interests in the loans on a loan-by-loan basis.

The company did not disclose further details regarding the terms of the third-party financing or the specific structure of the loan participations.

The information is based on a press release statement included in X1 Capital’s recent SEC filing.

In other recent news, Macy’s (NYSE:M), Inc. announced an increase in its cash tender offer for outstanding notes and debentures, raising the maximum purchase amount from $175 million to $250 million. This move comes as part of a broader financial strategy that includes the pricing of $500 million in 7.375% senior notes due 2033. The offering is expected to close in July 2025, subject to customary conditions. Meanwhile, UBS has reiterated its Sell rating on Macy’s stock, citing ongoing challenges and predicting a continued market share loss. The firm forecasts a negative 13% compound annual growth rate in earnings per share from fiscal year 2024 through fiscal year 2029. In another development, HDFC Bank Limited filed a revised version of its Integrated Annual Report for fiscal year 2024-25 with updated leadership profiles. The revision was made to comply with regulatory requirements and is now available on the bank’s website. These updates reflect recent developments in both companies’ strategic and operational plans.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.