Urgent.ly Inc. reached another agreement with its lenders for short-term extensions to its term loan agreements. The company continues to work on overall capital structure improvements. These extensions are part of ongoing efforts to refinance existing debt facilities.
The maturity date for the first lien term loans was extended until February 15, 2025. The second lien term loans were extended until March 17, 2025. These extensions follow previous short-term agreements, providing additional time for negotiations.
CFO Tim Huffmyer stated that these extensions are consistent with Urgently's goals of reducing debt and improving its capital structure. The company is finalizing discussions with lenders to refinance its existing debt facilities.
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