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BuildDirect Announces Completion of Secured Loan and Management Loans and Provides Preliminary Unaudited Financial Results for the First Quarter of 2025
Vancouver, British Columbia--(Newsfile Corp. - May 9, 2025) - BuildDirect.com Technologies Inc. (...
About this update from Builddirect.com Technologies Inc
[{"type":"text","content":"BuildDirect Announces Completion of Secured Loan and Management Loans and Provides Preliminary Unaudited Financial Results for the First Quarter of 2025Vancouver, British Columbia--(Newsfile Corp. - May 9, 2025) - BuildDirect.com Technologies Inc. (TSXV: BILD) (\"BuildDirect\" or the \"Company\") a leading omnichannel building material retailer, is pleased to report that, further to its press release on May 1, 2025, it has closed the previously announced secured loan (the \"2025 Loan\") with Lyra Growth Partners Inc. (the \"Lender\"), as well as the loans (the \"Management Loans\") with senior members of the Company's management team and its operating subsidiaries. The net proceeds of the 2025 Loan have been advanced to the Borrowers under the Management Loans to facilitate their acquisition of issued and outstanding common shares of the Company through private transactions, expected to close on or about May 14, 2025. As previously noted, the shares purchased under this transaction and other shares currently held by the Borrowers have been pledged as security for the Management Loans, aligning management's interests with those of the Company's shareholders.Additionally, the Company obtained written consent from disinterested shareholders holding more than 50% of the Company's issued and outstanding shares, as required under TSXV Policy 4.4 - Security Based Compensation.Preliminary Unaudited Q1 2025 Financial Highlights are as follows:Revenue for Q1 2025 is expected to be in the range of $14.8 million to $15.2 million;Gross Profit for Q1 2025 is expected to be in the range of $6.0 million to $6.4 million;Gross Profit Margin for Q1 2025 is expected to be in the range of 38% to 41%; andAdjusted EBITDA for Q1 2025 is expected to be in the range of $0.60 million to $0.65 million.The Company anticipates reporting its unaudited Q1 2025 results and holding a conference call to discuss the results in late May 2025 and will communicate the date of the earnings release and conference call shortly.About BuildDirectBuildDirect (TSXV: BILD) is a growing omnichannel building material retailer. BuildDirect connects North American home improvement B2B and B2C organizations, and homeowners with quality building materials and services through its robust global supply chain network. BuildDirect's growth trajectory, strong product offering, and prop...