Groupon: No longer substantial doubt about ability to continue as going concern

The company stated, “Beginning in the fourth quarter 2022, we disclosed conditions and events, when considered in the aggregate, that raised substantial doubt about our ability to continue as a going concern. Since then, we have taken the following actions to improve our liquidity: Our operating cash flow performance has improved for the year ended December 31, 2023 compared to December 31, 2022 and for three months ended December 31, 2023 compared to December 31, 2022. In the fourth quarter 2023, we received $18.9 million in proceeds from the sale of a portion of our non-controlling equity interest in SumUp. In January 2024, we closed a fully backstopped Rights Offering that was oversubscribed and raised $80.0 million. In February 2024, we prepaid $43.1 million and terminated our credit facility in advance of its maturity in May 2024. Accordingly, management has concluded that there is no longer substantial doubt about our ability to continue as a going concern.”