Hall of Fame Resort & Entertainment Co., the football-themed resort being built around the Pro Football Hall of Fame in Canton, Ohio, has agreed with an affiliate of Aquarian Holdings on a $40 million loan that it will use to repay a bridge loan.

The emerging growth company will use the new debt financing to repay a $34.5 million bridge loan, the company said Wednesday.

The remainder of the new debt financing and about $25 million in gross proceeds from a recent equity raise will provide additional working capital to help the company continue construction of Phase II of its emerging resort, among other work.

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