Sabio Announces Closing of a New US$10 Million Credit Facility
Sabio Holdings Inc. (TSXV: SBIO) (OTCQB: SABOF) has secured a new US$10 million senior-secured revolving credit facility with SLR Digital Finance, replacing its existing facility with Avidbank. The three-year facility offers an interest rate of Prime plus 2.15% or 8.5%, whichever is greater. It provides increased liquidity and long-term stability for Sabio, a California-based ad-tech company specializing in targeted ads for streaming platforms.
Additionally, Sabio has amended its Articles of Incorporation and By-laws following shareholder approval. These changes aim to streamline the conversion between common and restricted voting shares and establish a clear framework for nominating directors at shareholder meetings.
Sabio Holdings Inc. (TSXV: SBIO) (OTCQB: SABOF) ha ottenuto un nuovo linea di credito revolving senior secured da 10 milioni di dollari USA con SLR Digital Finance, sostituendo la sua linea di credito esistente con Avidbank. Questa linea triennale offre un tasso d'interesse pari al Prime più 2,15% o 8,5%, a seconda di quale sia maggiore. Essa fornisce una maggiore liquidità e stabilità a lungo termine per Sabio, un'azienda californiana di tecnologia pubblicitaria specializzata in annunci mirati per piattaforme di streaming.
Inoltre, Sabio ha modificato i suoi Statuti e Regolamenti a seguito dell'approvazione degli azionisti. Queste modifiche mirano a semplificare la conversione tra azioni ordinarie e azioni con diritto di voto limitato, stabilendo un quadro chiaro per la nomina dei direttori nelle assemblee degli azionisti.
Sabio Holdings Inc. (TSXV: SBIO) (OTCQB: SABOF) ha asegurado una nueva línea de crédito rotativa asegurada de 10 millones de dólares estadounidenses con SLR Digital Finance, reemplazando su línea existente con Avidbank. La línea de tres años ofrece una tasa de interés del Prime más el 2.15% o el 8.5%, lo que sea mayor. Proporciona una mayor liquidez y estabilidad a largo plazo para Sabio, una empresa de tecnología publicitaria con sede en California especializada en anuncios dirigidos para plataformas de streaming.
Además, Sabio ha modificado sus Artículos de Incorporación y Estatutos tras la aprobación de los accionistas. Estos cambios buscan simplificar la conversión entre acciones ordinarias y acciones con derecho a voto restringido, estableciendo un marco claro para la nominación de directores en las reuniones de accionistas.
Sabio Holdings Inc. (TSXV: SBIO) (OTCQB: SABOF)는 SLR Digital Finance와 함께 1천만 달러의 선순위 담보 회전 신용 시설을 확보하였으며, 기존의 Avidbank과의 시설을 대체했습니다. 이 3년 신용 시설은 프라임에 2.15%를 더하거나 8.5% 중 더 높은 금리를 제공하며, Sabio에게 더 많은 유동성과 장기적인 안정성을 제공합니다. Sabio는 스트리밍 플랫폼을 위한 타겟 광고에 특화된 캘리포니아 본사의 광고 기술 회사입니다.
추가로, Sabio는 주주 승인 후 정관과 내규를 수정했습니다. 이러한 변경은 보통주와 제한된 투표권 주식 간의 전환을 간소화하고, 주주 총회에서 이사 후보를 지명하는 명확한 틀을 구축하는 것을 목표로 하고 있습니다.
Sabio Holdings Inc. (TSXV: SBIO) (OTCQB: SABOF) a sécurisé une nouvelle ligne de crédit renouvelable garantissant 10 millions de dollars américains avec SLR Digital Finance, remplaçant sa ligne existante avec Avidbank. Cette ligne de crédit de trois ans propose un taux d'intérêt de Prêt Plus 2,15 % ou 8,5 %, selon ce qui est le plus élevé. Elle offre une liquidité accrue et une stabilité à long terme pour Sabio, une entreprise californienne spécialisée dans la technologie publicitaire ciblant les plateformes de streaming.
De plus, Sabio a modifié ses statuts et règlements internes suite à l'approbation des actionnaires. Ces modifications visent à rationaliser la conversion entre actions ordinaires et actions à droit de vote restreint, en établissant un cadre clair pour la nomination des administrateurs lors des assemblées des actionnaires.
Sabio Holdings Inc. (TSXV: SBIO) (OTCQB: SABOF) hat eine neue 10 Millionen US-Dollar umfassende senior-secured revolvierende Kreditfazilität mit SLR Digital Finance gesichert und damit die bestehende Fazilität bei Avidbank ersetzt. Die dreijährige Fazilität bietet einen Zinssatz von Prime plus 2,15% oder 8,5%, je nachdem, welcher höher ist. Sie bietet Sabio, einem kalifornischen Unternehmen für Anzeigentechnologie, das sich auf zielgerichtete Werbung für Streaming-Plattformen spezialisiert hat, erhöhte Liquidität und langfristige Stabilität.
Darüber hinaus hat Sabio nach Genehmigung der Aktionäre seine Satzung und Geschäftsordnung geändert. Diese Änderungen zielen darauf ab, den Wechsel zwischen Stammaktien und beschränkten stimmberechtigten Aktien zu vereinfachen und einen klaren Rahmen für die Nominierung von Direktoren bei Aktionärsversammlungen zu schaffen.
- Secured a new US$10 million credit facility, providing increased liquidity
- Three-year term offers long-term financial stability
- Competitive interest rate of Prime plus 2.15% or 8.5%, whichever is greater
- Increased borrowing capacity with 85% of eligible accounts receivable and up to $3 million in unbilled receivables
- None.
The facility replaces the Company's existing credit facility with Avidbank and provides for a
"We are pleased to partner with the team at SLR Digital Finance. As a former lender to Sabio under an earlier iteration, SLR has a deep understanding of our business and the broader digital media landscape," said Sajid Premji, Sabio's Chief Financial Officer. "We believe the new facility will provide Sabio with greater balance sheet flexibility at a competitive cost of capital. It will also fortify our balance sheet through several advantages over our previous arrangement, which includes increased liquidity and long-term stability through a multi-year term."
"Sabio has been the leader in ad-supported streaming television for many years, and we're thrilled to be partnering with them again," said Randy Mitzman, Managing Director at SLRDF. "Our flexible structure will allow them to be well positioned for future growth in a very competitive market."
Amendment to Articles of Incorporation and By-laws
Sabio is also pleased to advise that it has, further to approval of the shareholders at the annual general and special meeting held June 20, 2024, amended its Articles of Incorporation (the "Amended Articles") and By-laws (together with the Amended Articles, the "Constating Documents"). The Amended Articles are expected to facilitate a more streamlined conversion between the Company's common shares and restricted voting shares, and the amendment to the Company's By-laws are expected to establish a clear framework for nominating directors in connection with any annual or special meeting of shareholders of the Company. The Constating Documents have been approved by the TSX Venture Exchange and filed under the Company's profile on SEDAR+.
About Sabio
Sabio Holdings (TSXV: SBIO, OTCQB: SABOF) is a technology and services leader in the fast-growing ad-supported streaming space. Its cloud-based, end-to-end technology stack works with top blue chip, global brands and the agencies that represent them to reach, engage, and validate streaming audiences. Sabio Holdings' companies consist of Sabio – a demand-side platform (DSP) powered through our proprietary ad-serving technology; App Science™ – a non-cookie-based software as a service (SAAS) analytics and insights platform with AI natural language capabilities; and Sabio SSP (formerly known as Vidillion) – an ad-supported streaming supply-side platform (SSP) that includes server-side ad-insertion (SSAI) technology.
For more information, visit: sabioholding.com.
About SLR Digital Finance
SLR Digital Finance is the leading asset-based lender serving digital media companies looking for an alternative to traditional bank financing. SLRDF offers factoring and asset-based loans up to
SLRDF is a wholly owned subsidiary of SLR Business Credit, an SLR Investment Corp. company [NASDAQ: SLRC].
Forward-Looking Statements
This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, which is often, but not always, identified by the use of words such as "believes," "anticipates," "plans," "intends," "will," "should," "expects," "continue," "estimate," "forecasts," or the negative thereof and other similar expressions. All statements herein other than statements of historical fact constitute forward-looking information including, but not limited to, statements in respect of: balance sheet and cash flow management and expectations regarding greater balance sheet flexibility and improved balance sheet position, and the expected effects of the amendments to the Constating Documents. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The Company undertakes no obligation to comment on analyses, expectations, or statements made by third parties in respect of the Company, its securities, or financial or operating results (as applicable). Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors, and assumptions concerning future events that may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including the effect of the macro-economic environment adversely impacting the Company's business more than anticipated, unexpected funding and cash flow management difficulties, and the other risk factors disclosed in the Company's annual information form (AIF), which is publicly available on SEDAR+ at www.sedarplus.ca. The Company has assumed that the material factors referred to herein will not cause such forward-looking statements and information to differ materially from actual results or events. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information: Sajid Premji, Chief Financial Officer, investor@sabio.inc, Phone: 1.844.974.2662; Aideen McDermott, Investor Relations, investor@sabio.inc
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SOURCE Sabio Inc.
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