In a filing with the Securities & Exchange Commission, Skullcandy Inc. said it entered into a credit agreement and revolving line of credit note with Wells Fargo Bank, National Association, which provides a line of credit of up to $50 million. As a subfeature, the credit facility provides for letters of credit of up to $10,000,000. Proceeds from the Credit Facility will be used for general corporate purposes. The Credit Facility is secured with a first-priority lien against substantially all the assets of the Company.
