Magnite Announces Closing of New Senior Secured Revolving Credit and Term Loan Facilities
Summary
Loans under the New Revolving Credit Facility will bear interest at Term SOFR plus a margin ranging from 3.5% - 4.0% (compared to 4.25% - 4.75% under the existing revolving credit facility).In addition, the Companys Board of Directors approved a repurchase program, under which the company is authorized to purchase up to $125.0 million of its common stock and convertible notes through February 1, 2026. The number of securities repurchased, if any, and the timing of repurchases will depend on a number of factors, including, but not limited to, price, trading volume and general market conditions, along with working capital requirements, general business conditions, other opportunities that the company may have for the use or investment of its capital and other factors.Were Magnite (NASDAQ: MGNI), the worlds largest independent sell-side advertising company. Publishers use our technology to monetize their content across all screens and formats including CTV, online video, display, and audio. The worlds leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in bustling New York City, sunny Los Angeles, mile high Denver, historic London, colorful Singapore, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.This press release includes forward-looking statements, including with respect to our new credit facilities and repurchase program.
Funding
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