Urgent.ly extends term loans, allows prepayment, and expresses optimism for longer extensions

From GlobeNewswire: 2024-12-31 20:36:47

Urgent.ly Inc. (Nasdaq: ULY) has reached an agreement with lenders for short-term extensions on term loan agreements, allowing for partial prepayment of $3 million in principal amount and extending maturity dates to February 1, 2025 for first lien loans and March 3, 2025 for second lien loans. Tim Huffmyer, CFO of Urgent.ly, expressed optimism for longer-term extensions in the coming weeks. The company focuses on digital roadside and mobility assistance, using technology to ensure safe and uninterrupted journeys. Urgent.ly is in discussions to refinance debt facilities and improve its capital structure. For more information, visit www.geturgently.com.



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