The Globe and Mail reports in its Wednesday, April 9, edition that SRTX, maker of Sheertex tights, has secured $40-million (U.S.) in commitments from investors to address short-term working capital needs and aim for operating profitability this year. The Globe's Sean Silcoff writes that SRTX chief financial officer Tim Leyne wrote investors last Friday that the manufacturer of rip-resistant textiles made from the same polymer used in bulletproof vests had reached the $40-million (U.S.) commitment threshold of its proposed financing. He stated in the message, obtained by The Globe, that SRTX "is well on its way to meeting the closing conditions." SRTX expects to secure $24-million (U.S.) of that amount by April 14 and close on the financing on July 31. Meanwhile, the four lead investors have launched a process to recruit a new chief executive officer and independent board chair. Founder and CEO Katherine Homuth has agreed to sign a mutual separation and transition agreement and submit to a new company communications and social-media policy as a condition of the financing. SRTX products are stocked by H&M, Costco Wholesale, Walmart, Holt Renfrew & Co., Macy's and Kim Kardashian's SKIMS banner.