Orbit International Corp. Secures $6M Credit Line, Raises $4.075M

Orbit International Corp. has secured a new revolving credit line of up to $6.0 million and completed a $4.075 million private placement at $2.50 per share. Approximately $4.539 million of the new credit was used to repay a prior M&T Bank line. The proceeds will be allocated towards working capital, litigation expenses, and debt reduction.