S&W Seed obtains $9M line of credit

LONGMONT — S&W Seed Co. (Nasdaq: SANW) has obtained a $9 million line of credit as it attempts to stabilize its financial position.

The credit line is provided by the New York hedge fund MFP Partners LP, S&W’s largest shareholder, and was issued by JP Morgan Chase Bank. 

As part of the loan agreement, MFP Partners was issued a warrant to buy up to 500,000 shares of S&W common stock. 

S&W has recently been attempting to put itself on a more sound financial footing. After the company’s most recent quarterly report in May, CEO Mark Wong said S&W “has undergone a strategic review…