Gambling.com Group Limited, a leading provider of player acquisition services for the regulated global online gambling industry, announced the closing of a new credit facility with Wells Fargo Bank in the principal amount of $50 million, comprised of a $25 million revolving credit facility and a $25 million term loan facility.
The new Credit Facility matures on March 19, 2027, and, subject to approval by Wells Fargo, may be incrementally increased by up to $10 million in the aggregate. The credit facility is expected to be used for general corporate purposes, to settle deferred consideration, and to fund potential growth opportunities.
Elias Mark, Chief Financial Officer of Gambling.com Group, commented, “We have established a track record of successful execution on our growth initiatives that are delivering consistently strong revenue, Adjusted EBITDA and cash flow growth. This new credit facility enhances our already strong balance sheet and liquidity thereby providing additional financial flexibility as we pursue both organic and inorganic growth opportunities that can further scale the business and generate incremental value for our shareholders.”
The interest rate on the Credit Facility is as follows:
- Base Rate Loans: (i) the highest of (a) Prime Rate, (b) Federal Funds Rate plus 0.50%, and (c) Adjusted Term SOFR for one-month tenor plus 1.00%, (ii) plus an applicable margin of 2.50% per annum (the “Applicable Margin”)
- Term SOFR Loans: SOFR Rate plus 0.10%, plus the Applicable Margin
- Eurocurrency Rate Loans: Adjusted Eurocurrency Rate, plus the Applicable Margin
- Daily Simple RFR Loans: Adjusted Daily Simple RFR rate, plus the Applicable Margin