Digital Media Solutions, Inc.: debt financing — Digital Media Solutions secures $22M debt amendment, waives defaults but must launch asset sale process

Digital Media Solutions, Inc.

New Tranche A term loans of $22M increase total credit facility to $297M; maturity Feb 25, 2026.
PIK interest option for quarterly payments through March 31, 2025; net leverage covenant waived through June 30, 2025.
Company must maintain minimum $5M unrestricted cash and comply with variance test on cash receipts.
8.0% commitment fee payable as PIK interest; amendment also waives specified prior defaults.
Company must promptly start a strategic review and marketing process for sale of all or substantially all assets.

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

Digital Media Solutions, Inc. amended credit facility of $22 million with Truist Bank (as administrative agent and collateral agent) maturing February 25, 2026.

Instrument: credit facility
Principal: $22 million
Counterparty: Truist Bank (as administrative agent and collateral agent)
Maturity: February 25, 2026
Event: amendment

Exact text from the filing

The Second Amendment introduced new Tranche A term loan commitments in the amount of $22 million with a maturity date of February 25, 2026, increasing our total borrowing capacity under the Credit Facility from $275 million to $297 million.

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Source: SEC EDGAR

accession 0001628280-24-016841

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