Thryv refinances with $350M term loan and $85M ABL, reports 24% SaaS revenue growth, authorizes $40M buyback

Thryv Holdings, Inc.

Entered $350M term loan and $85M ABL credit facilities with Citizens Bank, maturing 2029 and 2028 respectively.
Q1 2024 SaaS revenue grew 24% to $74.3M; SaaS subscribers increased 30% to 70,000.
Consolidated net income was $8.4M ($0.22 per diluted share); Adjusted EBITDA was $54.1M (23.2% margin).
Board authorized $40M share repurchase program; raised full-year SaaS revenue guidance to $326-$329M.

item 1.01 item 2.02 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Thryv Holdings, Inc. incurred term loan of $350.0 million with Citizens Bank, N.A. at SOFR plus 6.75% maturing May 1, 2029.

Instrument: term loan
Principal: $350.0 million
Counterparty: Citizens Bank, N.A.
Rate: SOFR plus 6.75%
Maturity: May 1, 2029
Event: incurrence

Exact text from the filing

The Term Loan Agreement established a senior secured term loan facility (the “Term Loan Facility”) in an aggregate principal amount equal to $350.0 million.

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Thryv Holdings, Inc. incurred revolving credit of $85.0 million with Citizens Bank, N.A. at SOFR plus 2.50%-2.75% maturing May 1, 2028.

Instrument: revolving credit
Principal: $85.0 million
Counterparty: Citizens Bank, N.A.
Rate: SOFR plus 2.50%-2.75%
Maturity: May 1, 2028
Event: incurrence

Exact text from the filing

The ABL Credit Agreement established a $85.0 million asset-based revolving loan facility (the “ABL Facility”) which is governed by a borrowing base and the Company’s Trailing 90 Day Collections (as defined in the ABL Credit Agreement).

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Thryv Holdings, Inc. reported the three months ended March 31, 2024 results: revenue $233.6 million, net income $8.4 million, EPS $0.22 per diluted share. Guidance raised.

Period: the three months ended March 31, 2024
Revenue: $233.6 million
Net income: $8.4 million
EPS: $0.22 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

revenue was $74.3 million, a 24% increase year-over-year • Total Marketing Services revenue was $159.3 million, a 14% decrease year-over-year • Consolidated total revenue was $233.6 million, a decrease of 5% year-over-year • Consolidated net income was $8.4 million, or $0.22 per diluted share; compared to net income of $9.3 million, or $0.25 per diluted share, for

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Thryv Holdings, Inc. entered into ABL Credit Agreement with Citizens Bank, N.A. valued at $85.0 million (effective 2024-05-01).

Action: entry
Agreement: credit facility
Counterparty: Citizens Bank, N.A.
Value: $85.0 million
Effective: 2024-05-01

Exact text from the filing

On May 1, 2024, the Company entered into a new Credit Agreement (the “ABL Credit Agreement”) among the Company, the Borrower, the other borrowers from time to time party thereto, the lenders from time to time party thereto, and Citizens Bank, N.A., as administrative agent

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Thryv Holdings, Inc. entered into Term Loan Agreement with Citizens Bank, N.A. valued at $350.0 million (effective 2024-05-01).

Action: entry
Agreement: credit facility
Counterparty: Citizens Bank, N.A.
Value: $350.0 million
Effective: 2024-05-01

Exact text from the filing

On May 1, 2024, Thryv Holdings, Inc. (the “Company”) entered into a new Term Loan Credit Agreement (the “Term Loan Agreement”), by and among the Company, Thryv, Inc., a direct and wholly-owned subsidiary of the Company (the “Borrower”), the lenders party thereto from time to time, and Citizens Bank, N.A., as the administrative agent

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307 debt financings filed in the last 30 days. Browse all debt financings →

Thryv Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001556739-24-000025

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