Urgently secures $20M ABL facility, extends second lien maturity from March 2025 to July 2026

Urgent.ly Inc.

New $20M asset-based revolving credit facility with MidCap Financial; proceeds to repay first lien debt and for working capital.
Second lien loan amended: maturity extended from March 31, 2025 to July 31, 2026; interest rate set at 16% PIK then 13% cash.
Issued 1,358,073 shares to lenders (Highbridge, Onex Credit, Whitebox) as amendment fee; up to 1.34M additional shares if debt not repaid by July 1, 2025.
$2.6M amendment fee incurred under the second lien amendment.
MidCap facility and debt extension support growth in connected mobility services and transform legacy roadside assistance.

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