Acasta Enterprises Inc. entered into an amending agreement with the company's senior lenders under its $150 million credit facility. The Amending Agreement has allowed Stellwagen to use the proceeds from the previously announced revolving credit and security agreement entered into with Morgan Stanley Asset Funding Inc. to support Stellwagen's ongoing initiatives. Under the terms of the Amending Agreement, Acasta has paid down $5 million of the $120 million aggregate principal amount of indebtedness currently outstanding under the Credit Facility. In addition, Acasta has agreed to repay an additional $25 million of the Credit Facility by March 1, 2018.

The company announced that Michael Young resigned as a director of Acasta.