AudioEye Announces New Commercial Bank Loan Facility
AudioEye (AEYE) has secured a new $20 million loan facility with Bridge Bank, featuring a significant 6.5% interest rate reduction from their previous facility. The package includes a $12 million term loan, $3 million revolver, and $5 million delayed draw term loan for potential acquisitions.
The initial term loan will fully repay AudioEye's existing loan from November 2023 and strengthen their cash position. The company expects a 42% year-over-year increase in adjusted EBITDA based on previous guidance midpoint. The facility will mature in five years and provides additional flexibility for strategic opportunities.
AudioEye (AEYE) ha ottenuto un nuovo prestito di 20 milioni di dollari con Bridge Bank, che presenta una significativa riduzione del tasso d'interesse del 6,5% rispetto alla loro precedente linea di credito. Il pacchetto include un prestito a termine di 12 milioni di dollari, un prestito rotativo di 3 milioni di dollari e un prestito a termine con prelievo posticipato di 5 milioni di dollari per potenziali acquisizioni.
Il prestito a termine iniziale ripagherà completamente il prestito esistente di AudioEye da novembre 2023 e rafforzerà la loro posizione di liquidità. L'azienda prevede un aumento del 42% dell'EBITDA rettificato anno su anno basato sul punto medio delle precedenti indicazioni. La linea di credito scadrà tra cinque anni e offrirà ulteriore flessibilità per opportunità strategiche.
AudioEye (AEYE) ha asegurado un nuevo préstamo de 20 millones de dólares con Bridge Bank, que presenta una reducción significativa del 6,5% en la tasa de interés en comparación con su línea de crédito anterior. El paquete incluye un préstamo a plazo de 12 millones de dólares, un préstamo revolvente de 3 millones de dólares y un préstamo a plazo con disposición diferida de 5 millones de dólares para adquisiciones potenciales.
El préstamo a plazo inicial pagará completamente el préstamo existente de AudioEye de noviembre de 2023 y fortalecerá su posición de efectivo. La empresa espera un aumento del 42% en el EBITDA ajustado año tras año basado en el punto medio de la guía anterior. La línea de crédito vencerá en cinco años y proporciona flexibilidad adicional para oportunidades estratégicas.
AudioEye (AEYE)는 Bridge Bank와 함께 2천만 달러의 새로운 대출 시설을 확보했으며, 이전 시설에 비해 6.5%의 이자율 인하가 특징입니다. 이 패키지에는 1천2백만 달러의 장기 대출, 3백만 달러의 회전 대출, 그리고 5백만 달러의 지연 인출 장기 대출이 포함되어 있어 잠재적 인수에 사용될 수 있습니다.
초기 장기 대출은 2023년 11월 AudioEye의 기존 대출을 전액 상환하며, 현금 위치를 강화할 것입니다. 이 회사는 이전 지침의 중간값을 기준으로 연간 42%의 조정된 EBITDA 증가를 예상하고 있습니다. 이 시설은 5년 후 만료되며 전략적 기회를 위한 추가 유연성을 제공합니다.
AudioEye (AEYE) a sécurisé un nouveau prêt de 20 millions de dollars auprès de Bridge Bank, avec une réduction significative du taux d'intérêt de 6,5% par rapport à leur précédente facilité. Le package comprend un prêt à terme de 12 millions de dollars, un prêt revolving de 3 millions de dollars et un prêt à terme avec tirage différé de 5 millions de dollars pour des acquisitions potentielles.
Le prêt à terme initial remboursera intégralement le prêt existant d'AudioEye de novembre 2023 et renforcera leur position de liquidités. L'entreprise prévoit une augmentation de 42% de l'EBITDA ajusté d'une année sur l'autre basée sur le point médian des prévisions précédentes. La facilité arrivera à échéance dans cinq ans et offre une flexibilité supplémentaire pour des opportunités stratégiques.
AudioEye (AEYE) hat eine neue 20 Millionen Dollar Kreditlinie bei der Bridge Bank gesichert, die eine signifikante Zinsreduktion von 6,5% im Vergleich zu ihrer vorherigen Kreditlinie aufweist. Das Paket umfasst einen 12 Millionen Dollar Terminkredit, einen 3 Millionen Dollar revolvierenden Kredit und einen 5 Millionen Dollar verzögerten Terminkredit für potenzielle Akquisitionen.
Der anfängliche Terminkredit wird das bestehende Darlehen von AudioEye aus November 2023 vollständig zurückzahlen und ihre Liquiditätsposition stärken. Das Unternehmen erwartet einen 42%igen Anstieg des bereinigten EBITDA im Jahresvergleich, basierend auf dem Median der vorherigen Prognose. Die Kreditlinie läuft in fünf Jahren aus und bietet zusätzliche Flexibilität für strategische Möglichkeiten.
- Secured $20M loan facility with significantly lower interest rate (6.5% reduction)
- 42% projected year-over-year increase in adjusted EBITDA
- Material improvements in credit profile and operating leverage
- Additional financial flexibility for strategic opportunities and acquisitions
- Taking on $20M in debt obligations
- Continued reliance on external financing
Insights
AudioEye's new
The approximately
Beyond cost savings, this facility demonstrates improved institutional confidence in AudioEye's business model. Bridge Bank, backed by Western Alliance Bank (
The company's reference to
This refinancing strengthens AudioEye's cash position at a lower cost while creating optionality for future investments - the financial equivalent of having your cake and eating it too. The transaction aligns with the digital accessibility sector's growth trajectory while reducing financial risk.
Facility materially reduces interest rate with added flexibility
The new facility comprises a
"Over the last few quarters, our operating leverage has become clear with material improvements in our credit profile. We expect further improvements in operating leverage this year, with adjusted EBITDA expected to increase by
Francesco Corradino, Director, Technology & Innovation Banking at Bridge Bank, added, "Bridge Bank is proud to be AudioEye's banking partner as they continue in their mission of making the digital world more accessible for everyone. We believe in their market opportunity and unique approach to solving for accessibility. This loan reflects our team's ongoing commitment to banking relationships with best-in-class companies like AudioEye."
Bridge Bank's Technology & Innovation Banking Group supports technology companies at all stages of their life cycles with customized banking services and credit solutions to help them navigate rapidly changing environments.
About AudioEye
AudioEye exists to ensure the digital future we build is accessible. The gold standard for digital accessibility, AudioEye's comprehensive solution combines industry-leading AI automation technology with expert fixes informed by the disability community. This powerful combination delivers industry-leading protection, ensuring businesses of all sizes - including over 127,000 customers like Samsung, Calvin Klein, and Samsonite - meet and exceed compliance standards. With 24 US patents, AudioEye's solution includes 24/7 accessibility monitoring, automated WCAG issue testing and fixes, expert testing, developer tools, and legal protection, empowering organizations to confidently create accessible digital experiences for all.
About Bridge Bank
Bridge Bank, a division of Western Alliance Bank, Member FDIC, delivers relationship banking that puts clients at the center of everything. Founded in 2001 in Silicon Valley, Bridge Bank offers a full spectrum of tailored commercial banking solutions with specialized expertise focused on life sciences and technology and innovation companies at every stage in their life cycle, from startup to IPO and beyond. With offices in major tech hubs across the country, Bridge Bank delivers the reach, resources, and market expertise that make a difference for its clients. Bridge Bank also serves the private equity and venture capital communities by providing banking solutions for portfolio companies and funds, plus banking solutions for small to mid-size businesses in the Bay Area. Bridge Bank is part of Western Alliance Bancorporation, which has more than
Forward-Looking Statements
Any statements in this press release about AudioEye's expectations, beliefs, plans, objectives, prospects, financial condition, assumptions or future events or performance are not historical facts and are "forward-looking statements" as that term is defined under the federal securities laws. Forward-looking statements are often, but not always, made through the use of words or phrases such as "believe", "anticipate", "should", "confident", "intend", "plan", "will", "expects", "estimates", "projects", "positioned", "strategy", "outlook" and similar words. You should read the statements that contain these types of words carefully. Such forward-looking statements contained herein include, but are not limited to, statements regarding future cash flows of the Company, acquisition opportunities, long-term growth prospects, and our adjusted EBITDA guidance. These statements are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from what is expressed or implied in such forward-looking statements, including the variability of AudioEye's revenue and financial performance; sales channels and offerings; product development and technological changes; the acceptance of AudioEye's products in the marketplace; the effectiveness of our integration efforts; competition; inherent uncertainties and costs associated with litigation; and general economic conditions. These and other risks are described more fully in AudioEye's filings with the Securities and Exchange Commission. There may be events in the future that AudioEye is not able to predict accurately or over which AudioEye has no control. Forward-looking statements reflect management's view as of the date of this press release, and AudioEye urges you not to place undue reliance on these forward-looking statements. AudioEye does not undertake any obligation to update such forward-looking statements to reflect events or uncertainties after the date hereof.
Media Contact
Sierra Thomas
AudioEye PR
sierra.thomas@audioeye.com
Investor Contact
Tom Colton
Gateway Group, Inc.
AEYE@gateway-grp.com
949-574-3860
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SOURCE AudioEye, Inc.
FAQ
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