Quotient secures $105 million non-dilutive debt financing



SALT LAKE CITY–()–Quotient Technology Inc. (NYSE: QUOT) (“Quotient” or the “Company”), a leading digital media and promotions technology company, today announced that it has entered into an engagement letter with PNC Bank, NA (“PNC”), pursuant to which PNC, subject to the terms and conditions set forth in the letter, has agreed to provide the Company with a senior secured asset-based revolving credit facility with an initial aggregate principal amount of $50 million. Quotient has also entered into an undertaking letter with Blue Torch Capital, LP (“Blue Torch”), pursuant to which Blue Torch, subject to the terms and conditions set forth in the letter, has agreed to provide Quotient with a facility senior secured term loan in an aggregate principal amount of up to $55 million.

The Company’s new capital structure will be used to repay maturing convertible note obligations and fund capital expenditures to strengthen and grow the business.

“We are very pleased to have secured this non-dilutive debt financing, which significantly improves our capital structure and aligns our cash position with our growth strategy and requirements as a technology platform,” said Matt Krepsik, CEO. “As a more stable and sustainable company, Quotient is better positioned to capitalize on a changing industry landscape and improve long-term shareholder value.

Quotient notes that she has no other outstanding long-term debt. The agreed financing does not include any equity or equity-indexed component and is therefore non-dilutive for shareholders. Additional details regarding the financing facilities will be available in the company’s Form 8-K due to be filed today with the United States Securities and Exchange Commission.

About Quotient Technology Inc.

Quotient Technology (NYSE: QUOT) is a leading digital media and promotional technology company for advertisers, retailers and consumers. Quotient’s omnichannel platform is powered by proprietary consumer spending data, location intelligence, and purchase intent data to reach millions of shoppers every day and drive measurable, incremental sales.

Quotient partners with leading advertisers, publishers and retailers including Clorox, Procter & Gamble, General Mills, Unilever, CVS, Dollar General, Peapod Digital Labs, an Ahold Delhaize USA company, Amazon and Microsoft. Quotient is headquartered in Salt Lake City, Utah, and has offices in the United States as well as Bangalore, Paris, London, and Tel Aviv. For more information, visit www.quotient.com.

Quotient and the Quotient logo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United States and other countries. Other trademarks are the property of their respective owners.

Forward-looking statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. current expectations of future events based on certain assumptions and include any statements that do not directly relate to historical or current fact. Actual results could differ materially from expectations due to various risks and uncertainties, including, but not limited to, the factors described in the Risk Factors section of Quotient’s most recent annual report filed on Form 10-K for the fiscal year ended December 31, 2021 filed with the SEC on March 1, 2022, as amended on April 29, 2022 and updated from time to time in Quotient’s quarterly reports on Form 10-Q. These documents are available in the “SEC Filings” section of Quotient’s Investor Relations website at https://investors.quotient.com. You are cautioned not to place undue reliance on Quotient’s forward-looking statements, which speak only as of the date of this communication. Except as required by law, the Company undertakes no obligation to update forward-looking statements to reflect events, new information or circumstances occurring after the date of this communication.

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