The company will use the money — which could rise to $150 million — to expand its production efforts
OddLot Entertainment closed a $50 million revolving credit facility with J.P. Morgan and Comerica, the company said Thursday.
OddLot will use the money – which could eventually go as high as $150 million — to expand its physical production capacity and related filmed entertainment ventures.
“This arrangement positions the company for growth and we look forward to much activity going forward,” said Gigi Pritzker, OddLot's chief executive and founder.
OddLot's Co-President Bill Lischak negotiated the deal on behalf of the company, along with Natalya Petrosova, who has been elevated to the role of executive vice-president of finance, and Aaron Michiel, OddLot's executive vice-president of business and legal affairs.
OddLot is currently co-producing Ivan Reitman‘s “Draft Day,” starring Kevin Costner, which will be released by Summit Entertainment on April 11 (photo above); “Mortdecai” starring Johnny Depp, Gwyneth Paltrow, Ewan McGregor, Olivia Munn and Paul Bettany,which Lionsgate will release; and Jon Stewart's upcoming directorial debut “Rosewater.”