ARCHIE COMICS Takes Outside Financing For 'Working Capital and Growth'

"Archie: Collector's Edition #1" cover by Fiona Staples
Credit: Fiona Staples (Archie Comics)
Credit: Archie Comics

Archie Comics has acquired an unspecified amount of "working capital and growth financing" from the specialty finance firm Veritas Partners. The capital is said to fund Archie Comics' current comic book publishing efforts, as well as "expansion and diversification into various media segments."

“The Veritas team did an exceptional job of understanding our business and the strength of our brands to generate future business," ais Archie Comics CEO Jon Goldwater. "Veritas’s financing provides us with a solid capital base as we propel ourselves into another 75 years of success.”

“We are thrilled to provide financing to Archie Comics – an American icon that is one of the most successful and longest running brands in the history of the comic book industry,” said Mark Seigel, president of Veritas. “We are especially pleased that we were able to complete the transaction swiftly and to an outstanding end result for the company.”

In May 2015, Archie cancelled a prospective Kickstarter campaign which aimed to raise $350,000 to fund the company's publishing plans. Archie ended the campaign over controversy that a company with a 75 year publishing history would use the crowd-funding site to raise advance capital. The cancelled Kickstarter forced Archie to delay its plans to launch three titles, all of which were eventually scheduled for publication, with the final two due to be released this July.

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