Fluent (FLNT) has released an update to notify the public and investors about an entry into a material definitive agreement.
Fluent, LLC entered into a series of waivers under the Credit Agreement with its lenders and Citizens Bank, waiving breach of covenant rights and remedies, culminating in a Third Waiver and Amendment that extends the waiver period and modifies the agreement terms, including increased Applicable Margins and a new Maturity Date. Additionally, the amendment imposes new requirements on the Borrower, such as compliance with additional reporting, maintaining a minimum cash reserve, engaging a financial advisor and investment banker, and securing Transaction Commitments to provide substantial net proceeds.
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