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Rimini Street Announces Debt Reduction and Amendment to its Credit Agreement
LAS VEGAS--(BUSINESS WIRE)-- Rimini Street, Inc. (Nasdaq: RMNI), the Software Support and Agentic AI ERP Company™, and the leading third-party support
About this update from Rimini Street, Inc.
[{"type":"text","content":" LAS VEGAS--(BUSINESS WIRE)--\nRimini Street, Inc. (Nasdaq: RMNI), the Software Support and Agentic AI ERP Company™, and the leading third-party support provider for Oracle, SAP and VMware software, today announced first quarter debt reduction activities and a recent amendment to its credit agreement.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260401160360/en/Rimini Street Announces Debt Reduction and Amendment to its Credit Agreement\n\nDebt reduction activities during the first quarter of 2026 totaled $10.9 million, reducing the Company’s outstanding term loan to $58.4 million as of March 31, 2026.\n\n\n\nThe Company’s credit agreement was amended effective as of March 27, 2026 to increase to $20.0 million the value of Company common stock that could be repurchased per annum, beginning with the Company’s 2026 fiscal year and for each fiscal year thereafter, with a revised total of $50.0 million in permitted stock repurchases from the period beginning January 1, 2026 through the maturity of the facility on April 30, 2029. The Company’s Board previously authorized common stock repurchases of up to $50.0 million, of which $36.7 million remains available until April 2029.\n\n\n\n“These actions support our disciplined deployment of resources to drive shareholder value through investments in the business, debt reduction and common share repurchases,” said Seth Ravin, president and CEO, Rimini Street.\n\n\nAbout Rimini Street, Inc.\n\n\nRimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a proven, trusted global provider of end-to-end, mission-critical enterprise software support, managed services and innovative Agentic AI ERP solutions, and is the leading third-party support provider for Oracle, SAP and VMware software. The Company has signed thousands of IT service contracts with Fortune Global 100, Fortune 500, midmarket, public sector and government organizations who have leveraged the Rimini Smart Path™ methodology to achieve better operational outcomes, billions of US dollars in savings and fund AI and other innovation.\n\n\nTo learn more, please visit www.riministreet.com, and connect with Rimini Street on X, Facebook, Instagram, and LinkedIn.\n\n\nForward-Looking Statements\n\n\nCertain statements included in this communication are not historical...