Business
Domo Announces Term Loan Extended to 2025
SILICON SLOPES, Utah--(BUSINESS WIRE)-- Domo (Nasdaq: DOMO), provider of the Business Cloud, today announced that it has extended the maturity date of its
About this update from Domo, Inc.
[{"type":"text","content":" SILICON SLOPES, Utah--(BUSINESS WIRE)--\nDomo (Nasdaq: DOMO), provider of the Business Cloud, today announced that it has extended the maturity date of its $100 million term loan until April 2025, with no principal payments required until the new maturity date. Terms of the extension are consistent with the current facility. The term loan is held by funds managed by BlackRock.\n\n\n“Since our IPO, we have been resolute about achieving a cash-flow positive position with the existing cash on our balance sheet,” said Bruce Felt, chief financial officer, Domo. “This extension of the term loan through the support of BlackRock gives us the flexibility to even more comfortably reach that goal with no near-term funding requirements.\"\n\n\nJohn Doyle, BlackRock director, commented, “The current macro-environment is shining a spotlight on Domo’s unique value proposition for the future of work and the acceleration of digital transformation initiatives across every industry. We’re committed to our relationship and helping Domo accomplish its goal of achieving a cash-flow positive position.”\n\n\nAbout Domo \n\n\nDomo is the Business Cloud, empowering organizations of all sizes with BI leverage at cloud scale in record time. With Domo, BI-critical processes that took weeks, months or more can now be done on-the-fly, in minutes or seconds, at unbelievable scale. For more information about how Domo (Nasdaq: DOMO) helps its customers go fast, go big and go bold, visit www.domo.com. You can also follow Domo on Twitter, Facebook and LinkedIn.\n\n\nDomo Disclosure Channels to Disseminate Information\n\n\nDomo investors and others should note that we announce material information to the public about our company, products and services, and other issues through a variety of means, including Domo's website, press releases, SEC filings, blogs and social media, in order to achieve broad, non-exclusionary distribution of information to the public. We intend to use the Domo Facebook page, the Domo LinkedIn page, the Domo blog, the @Domotalk Twitter account and the @JoshJames Twitter account as a means of disclosing information about the Company and its services and for complying with the disclosure obligations under Regulation FD. The information we post through these social media channels may be deemed material. Accordingly, we encourage investors and ...