Cardlytics Refinances Credit Facilities with Square 1 Bank
May 31 2018 - 4:05PM
Cardlytics (NASDAQ:CDLX), a purchase intelligence platform that
makes marketing more relevant and measurable, announced that it has
entered into a loan and security agreement with Square 1 Bank, a
division of Pacific Western Bank, a full service banking partner to
entrepreneurs and their investors. The agreement entails a $30.0
million asset-based revolving line of credit and a $20.0 million
term loan to refinance all outstanding indebtedness.
“Since going public earlier this year, we have continued great
momentum, including reporting solid Q1 earnings and announcing our
partnership with Chase,” said David Evans, Cardlytics Chief
Financial Officer. “Having Square 1 as a financial services partner
further strengthens our balance sheet, giving us a strong
foundation to execute our business goals.”
For full details of the agreement, please see the 8-K filing,
here.
About CardlyticsCardlytics (NASDAQ:CDLX) uses
purchase intelligence to make marketing more relevant and
measurable. We partner with more than 2,000 financial institutions
to run their banking rewards programs that promote customer loyalty
and deepen banking relationships. In turn, we have a secure view
into where and when consumers are spending their money. We use
these insights to help marketers identify, reach and influence
likely buyers at scale, as well as measure the true sales impact of
marketing campaigns. Headquartered in Atlanta, Cardlytics has
offices in London, New York, Chicago and San Francisco. Learn more
at www.cardlytics.com.
Media Contact
Public Relations: ICR cardlyticspr@icrinc.com
Investor Relations: William Maina ICR, Inc. (646) 277-1236
ir@cardlytics.com
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