The restructuring at Basic Fun! continues as the company inked a deal with Great Rock Capital to support its ongoing business operations.
Under the deal, Great Rock Capital provided $50 million debtor-in-possession (DIP) financing to allow Basic Fun! ample liquidity as it continues to shore up its business for and plan for future success. On June 28, Basic Fun! sought court approval for the DIP deal as part of its restructuring package.
We are thrilled to have the backing of Great Rock Capital, which strongly positions Basic Fun! for continued advancement and innovation. This milestone is a testament to our resilience and strategic vision.”
Basic Fun! designs, markets, and distributes a wide array of toys from classic brands, including Hasbro’s Littlest Pet Shop, Lite-Brite, and Tonka, in addition to Care Bears, K’NEX, and Lincoln Logs. Last month, the company showed off its new and upcoming products at The Toy Insider’s Sweet Suite event in New York City [The Toy Insider is a sister publication to The Toy Book].
“Basic Fun! is an international industry leader, and we look forward to working with the company as they simplify their capital structure, enabling them to aggressively pursue future growth opportunities,” says Stuart Armstrong, CEO of Great Rock Capital. “Their innovative designs and unmatched leadership, along with this new capital, will allow them to reach new levels of success.”
Oppenheimer & Co. Inc. served as the exclusive financial advisor for the transaction.
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