The latest announcement is out from nCino (NCNO).
nCino, Inc. has recently enhanced its financial agility by amending its existing credit agreement with Bank of America, securing a $100 million senior revolving credit facility, which includes a $7.5 million sublimit for letters of credit. This strategic move comes alongside the company’s acquisition of DocFox, Inc., a software provider for financial institutions, for $75 million in cash, a deal expected to close within March 2024. The credit facility, with competitive interest rates and the flexibility of repayment without penalty, positions nCino for sustained growth and expansion in its market offerings.
For a thorough assessment of NCNO stock, go to TipRanks’ Stock Analysis page.
