Fluent Announces New $65 Million Credit Facility
The proceeds of the term loan will be used to repay all outstanding amounts under Fluent’s previous credit facility (the “Refinanced Term Loan”), to pay transaction fees and expenses, and for working capital and other general corporate purposes.
Borrowings under the new credit facility bear a floating rate of interest with a LIBOR margin of between 1.75% and 2.75%, which compares favorably to a LIBOR margin of 7.00% under the Refinanced Term Loan. The new credit facility will mature on
“This refinancing brings many benefits to Fluent, including considerably lowering our cost of debt capital, enhancing our financial flexibility and providing additional capital to support future growth opportunities,” commented
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
The matters contained in this press release may be considered to be “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. Those statements include statements regarding the intent, belief or current expectations or anticipations of Fluent and members of our management team. Factors currently known to management that could cause actual results to differ materially from those in forward-looking statements are set forth under “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and in our other filings with the
Source: Fluent, Inc.