Lumine Group, a global acquirer of communications and media software companies, announced that its wholly-owned indirect subsidiary, WideOrbit Inc. (“WideOrbit”), has entered into a revolving financing facility with a syndicate of Canadian and U.S. financial institutions amounting to US$185,000,000 to provide long-term financing in connection with the previously announced acquisition of WideOrbit, a US-based media vertical market software provider. The debt facility also includes a US$5,000,000 operating line as well as a US$75,000,000 uncommitted accordion to grow the facility if required.

The syndicate of lenders is led by Royal Bank of Canada and also includes Wells Fargo, Silicon Valley Bank, The Toronto-Dominion Bank, and Fédération des Caisses Desjardins du Québec.

Covenants associated with this facility will be based on the financial position and financial performance of WideOrbit. The covenants include a maximum leverage ratio and fixed charge coverage ratio. The loan has a maturity date of March 2, 2028 and bears an interest rate of SOFR plus applicable spreads based on the leverage ratio. Lumine Group has not guaranteed this debt, nor are there any cross-guarantees between other subsidiaries under Lumine Group. The credit facility is collateralized by substantially all of the assets of WideOrbit.