Secures additional funding to support operations and enters into agreement to go-private with backing of its senior secured lenders, ensuring a brighter and more efficient future
AgileThought, Inc., a global provider of digital transformation services, agile software development, and next generation technology solutions, announced additional working capital funding, a go-private transaction, and restructuring that, combined, will reduce the Company’s debt load, infuse new capital into the business, and provide a firm financial foundation for its future. This transaction is underpinned by an asset purchase agreement with affiliates of Blue Torch Finance, LLC (“Blue Torch”), the Company’s senior secured lenders, and marks a pivotal step in AgileThought’s journey towards long-term success and enhanced service delivery.
To support the restructuring process, Blue Torch has agreed to provide approximately $22 million in new-money financing (subject to court approval), which will ensure AgileThought’s high-quality standards, services, and commitment to its people will remain steadfast and uninterrupted. The day-to-day operations of the company will continue seamlessly, without disruption.
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To ensure a smooth transition and protection for all stakeholders, AgileThought will effectuate the transaction through a 90-day Chapter 11 reorganization process under the U.S. Bankruptcy Code. This proven mechanism will allow the Company to execute the transaction and efficiently reorganize its finances, reduce its debt, and emerge with a healthier balance sheet.
A Blue Torch affiliate has agreed to serve as the stalking-horse buyer of substantially all of AgileThought’s assets, subject to several factors, including higher or better offers. The proposed transaction is subject to court approval, and other customary conditions.
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Manuel Senderos, Chief Executive Officer of AgileThought, emphasized, “We are excited about this transaction and what it means for our enhanced ability to deliver for our clients, people, and partners. This strategic financial reorganization will pair our already robust and thriving organization with a capital structure that matches, and this move will allow us to operate even more efficiently. Post-reorganization, we will emerge with significantly reduced debt and a private ownership structure, fortifying an even stronger and healthier AgileThought.”
Clients have always been the cornerstone of AgileThought’s success. The Company assures its valued clients that its dedication to delivering top-tier services remains unwavering. This financial restructuring is anticipated to further enhance the services and support clients have come to expect from AgileThought. The AgileThought team remains committed to best-in-class support and continued transparency throughout the reorganization process.
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