ACCESS Newswire Inc. (ACCS): M&A transaction — ACCESS Newswire sells compliance assets for $12.5M, cuts debt $12M

ACCESS Newswire Inc.

Sold certain compliance assets to Equiniti Trust Company for $12.5M cash; $500k holdback for 12-month indemnification.
Used $12M of proceeds to repay term loan, reducing principal from $15.33M to $3.33M; monthly payments cut from $333k to $72.5k.
Pro forma continuing ops 9M 2024: revenue $17.2M (as-reported $21.6M), net loss $2.336M (total net loss $0.598M).
Sold assets include disclosure software, stock transfer, annual meeting, virtual meeting services (excluding related IP).
Pinnacle credit agreement amended with lower line-of-credit limits tied to leverage ratio and revised financial covenants.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

ACCESS Newswire Inc. completed a disposition involving Equiniti Trust Company, LLC for $12,500,000 in cash (closed 2025-02-28).

Action: disposition
Counterparty: Equiniti Trust Company, LLC
Consideration: $12,500,000 in cash
Closing: 2025-02-28

Exact text from the filing

includes certain accounts payable, accrued liabilities and deferred revenue. The transaction also closed on February 28, 2025. The purchase price for the Purchased Assets is $12,500,000 in cash, subject to adjustment as set forth in the Purchase Agreement, with $12,000,000 of the purchase price being paid to the Sellers at closing and $500,000 being retained by

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ACCESS Newswire Inc. filing history →

Source: SEC EDGAR

accession 0001654954-25-002383

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