SED Completes Financing Deal For Up to $35 Million

SED International Fleet Capital

The deal allows SED to support domestic and international operations, said Gerald Diamond, chairman and CEO of the Atlanta-based distributor.

"We primarily plan on utilizing the credit facility in the United States to accelerate vendor payment discounts. We plan to use part of the credit facility to support similar opportunities in Latin America," Diamond said.

SED stock is now traded on OTC Bulletin Board after being delisted by Nasdaq last month. Shares were last trading at 55 cents per share, up 40 cents or 267 percent Wednesday.