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Quotient Completes $105MM Non-Dilutive Debt Financing

December 07, 2022, 06:00 AM
Filed Under: Technology

Quotient Technology, a leading digital promotions and media technology company, completed its previously announced $105 million non-dilutive debt financing. On November 30, 2022, Quotient entered into a Financing Agreement with PNC Bank, with a senior secured asset-based revolving credit facility in an aggregate principal amount of $50 million. Quotient also entered into a Financing Agreement Blue Torch Capital LP, with senior secured term loans in an aggregate principal amount of $55 million. The proceeds of the term loans were used to help retire the maturing convertible note obligations, which were repaid in full on December 1, 2022. Houlihan Lokey served as Quotient’s financial advisor.

“The retirement of the convertible note obligations significantly improves our capital structure and marks an important milestone in our transformation journey,” said Yuneeb Khan, Chief Financial Officer. “Further, it provides us with an optimized cash position, does not overburden our P&L and cash flow, and protects shareholder value. We believe this new structure better positions Quotient to capitalize on the evolving programmatic media landscape.”

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 with the U.S. Securities and Exchange Commission.

Previously featured on ABL Advisor: PNC Bank, Blue Torch Capital Provide $105MM Debt Financing to Quotient Technology

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