Dynata Secures DIP Financing After Successful Prepackaged Chapter 11 First Day Hearing
Summary
in New Money Financing Committed by New Equity Owners, of which recently was fundedSHELTON, Conn., May 28, 2024 /PRNewswire/ -- Dynata, LLC ("Dynata" or the "Company"), the most trusted source for reliable, accurate first-party data announced today that the Company has successfully concluded its first day prepackaged chapter 11 hearing and received $31.5M in new financing, with access to another $50 million in new financing set for early July 2024 following emergence from its short chapter 11.Dynata submitted a prepackaged chapter 11 filing in the United States Bankruptcy Court for the District of Delaware on May 22, 2024. "We are paying our vendors, partners, and employees in full and on time and continue to provide high-quality service to our customers. This prepackaged filing has been crucial to securing Dynatas future, as our transformation plan continues unabated, and we are well positioned for growth. I am excited to start the second half of the year with a significantly deleveraged balance sheet, fresh capital, and increased momentum, with no business disruption in the meantime. With a reach that encompasses 70 million consumers and business professionals globally, and an extensive library of individual profile attributes collected through surveys, Dynata is the cornerstone for precise, trustworthy quality data.
Funding
Classifications
AskAI Classifications
LabelsLinked Companies
