checkAd

Quotient Secures $105 Million Non-Dilutive Debt Financing

Quotient Technology Inc. (NYSE: QUOT) (“Quotient” or the “Company”), a leading digital media and promotions technology company, today announced that it has entered into a commitment letter with PNC Bank, N.A. (“PNC”), pursuant to which PNC, subject to terms and conditions stated in the letter, has committed to provide the Company with a senior secured asset-based revolving credit facility in an initial aggregate principal amount of $50 million. Quotient has also entered into a commitment letter with Blue Torch Capital, LP (“Blue Torch”), under which Blue Torch, subject to terms and conditions stated in the letter, has committed to provide Quotient with a senior secured term loan facility in an aggregate principal amount up to $55 million.

The Company’s new capital structure will be used to retire the maturing convertible note obligations and to fund capital expenditures to strengthen and grow the business.

"We are very pleased to secure this non-dilutive debt financing, which significantly improves our capital structure and aligns our cash position with our growth strategy and the demands as a technology platform,” said Matt Krepsik, CEO. “As a more stable and durable business, Quotient is better positioned to capitalize on an evolving industry landscape and enhance long-term shareholder value.”

Quotient notes that it has no other outstanding long-term debt. The agreed-upon financing does not include any equity or equity-linked component and is therefore non-dilutive to shareholders. Additional details regarding the financing facilities will be available in the Company’s Form 8-K to be filed today with the U.S. Securities and Exchange Commission.

About Quotient Technology Inc.

Quotient Technology (NYSE: QUOT) is a leading digital media and promotions technology company for advertisers, retailers and consumers. Quotient's omnichannel platform is powered by exclusive consumer spending data, location intelligence and purchase intent data to reach millions of shoppers daily and deliver measurable, incremental sales.

Quotient partners with leading advertisers, publishers and retailers, including Clorox, Procter & Gamble, General Mills, Unilever, CVS, Dollar General, Peapod Digital Labs, a company of Ahold Delhaize USA, Amazon and Microsoft. Quotient is headquartered in Salt Lake City, Utah, and has offices across the US as well as in Bangalore, Paris, London and Tel Aviv. For more information visit www.quotient.com.

Quotient and the Quotient logo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United States and other countries. Other marks are the property of their respective owners.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ significantly from expectations due to various risks and uncertainties including, but not limited to, the factors described in the Risk Factors section of Quotient’s most recently filed Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on March 1, 2022, as amended on April 29, 2022, and as from time to time updated in Quotient’s Quarterly Reports on Form 10-Q. These documents are available in the “SEC Filings” section of Quotient’s Investor Relations website at https://investors.quotient.com. You are cautioned not to place undue reliance on Quotient’s forward-looking statements, which speak only as of the date of this communication. Except as required by law, the Company undertakes no obligation to update any forward-looking statement to reflect events, new information or circumstances occurring after the date of this communication.


The Quotient Technology Stock currently trades with a fall of -5,42 % to 2,62USD on the NYSE stock exchange.



0 Kommentare
Nachrichtenquelle: Business Wire (engl.)
 |  101   |   |   

Schreibe Deinen Kommentar

Disclaimer

Quotient Secures $105 Million Non-Dilutive Debt Financing Quotient Technology Inc. (NYSE: QUOT) (“Quotient” or the “Company”), a leading digital media and promotions technology company, today announced that it has entered into a commitment letter with PNC Bank, N.A. (“PNC”), pursuant to which PNC, subject …

Nachrichten des Autors

220 Leser
216 Leser
204 Leser
200 Leser
164 Leser
164 Leser
160 Leser
160 Leser
156 Leser
152 Leser
1696 Leser
768 Leser
564 Leser
540 Leser
452 Leser
440 Leser
432 Leser
404 Leser
396 Leser
368 Leser
3236 Leser
2100 Leser
1928 Leser
1696 Leser
1604 Leser
1344 Leser
1168 Leser
1164 Leser
1112 Leser
1076 Leser
7528 Leser
3236 Leser
3061 Leser
2934 Leser
2497 Leser
2416 Leser
2370 Leser
2169 Leser
2106 Leser
2100 Leser