Archie Comics has secured an unspecified amount of financing earmarked for its current publishing operations and expansion into other media.
The working capital and growth financing comes from Boca Raton, Florida-based Veritas Financial Partners, which typically provides loans ranging from $2 million to $15 million. The terms of the Archie deal weren't disclosed.
The agreement comes even as the 76-year-old publisher shakes up its core editorial lineup with relaunches of "Archie" and "Jughead," with "Betty & Veronica" on the horizon. "Riverdale," a television drama characterized as "Archie meets David Lynch," is set to premiere on The CW at midseason.
"The Veritas team did an exceptional job of understanding our business and the strength of our brands to generate future business," Archie Co-CEO Jon Goldwater said in a statement. "Veritas's financing provides us with a solid capital base as we propel ourselves into another 75 years of success."