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WILDBRAIN ANNOUNCES NEW US $415 MILLION SENIOR SECURED CREDIT FACILITY

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New Senior Secured Credit Facility fully funds the repayment of WildBrain’s outstanding convertible debentures and extends its corporate debt maturities to 2029

TORONTO, July 23, 2024 /CNW/ – WildBrain Ltd. (“WildBrain” or the “Company”) (TSX: WILD), a global leader in kids’ and family entertainment, has entered into an agreement with a group of private lenders, led by Sagard and Comvest Credit Partners, for a new five-year US $415 million Senior Secured Credit Facility consisting of a $375 million term loan and a $40 million revolving credit facility (the “New Facilities”), bearing interest of SOFR plus a range of 5.5% to 6%, depending on the Company’s total leverage ratio. Proceeds from the New Facilities will be used to fully repay the Company’s existing Term Loan, due March 2028, and Revolving Facility, due July 2024. In addition, proceeds from the New Facilities, along with working capital and proceeds of CA $7,250,000 from the exercise of outstanding warrants, have been deposited in escrow with Computershare and will be used to fully repay the Company’s Convertible Unsecured Subordinated Debentures (the “Convertible Debentures”), due September 2024.

Josh Scherba, WildBrain’s President and CEO, said: “This comprehensive plan to refinance our debt and repay our debentures extends our debt maturity as we continue to execute on a growth strategy focused on key franchises and partnerships in the kids’ and family entertainment space. More than ever, major players such as Netflix, Apple TV+, Supercell, SEGA and LEGO are turning to WildBrain for our 360-degree expertise in Content Creation, Audience Engagement and Global Licensing. Sagard is a leader in private credit, and we are pleased that they recognize the value of our business and the inherent opportunity for growth presented by our offering.”

Sagard Chief Investment Officer, Adam Vigna, said: “We are pleased to provide a tailored private credit solution which extends WildBrain’s maturity profile and which we believe will enable the Company to execute on its strategic vision.”

Sagard and Comvest Credit Partners acted as Co-Lead Arrangers and Bookrunners on the refinancing. Goodmans LLP and Bryan Cave Leighton Paisner LLP acted as counsel to WildBrain and Kirkland & Ellis LLP acted as lender counsel in the transaction. The credit agreement in respect of the Senior Facility will be available on SEDAR+ at sedarplus.ca.

For more information, please contact:

Investors: Kathleen Persaud – VP Investor Relations, WildBrain
kathleen.persaud@wildbrain.com
+1 212-405-6089

Media: Shaun Smith – Sr. Director, Global Communications & Public Relations, WildBrain
shaun.smith@wildbrain.com
+1 416-977-7230

About WildBrain

At WildBrain we inspire imaginations through the wonder of storytelling. As a leader in 360° franchise management, we are experts in content creation, audience engagement and global licensing, cultivating and growing love for our own and partner brands with kids and families around the world. With approximately 13,000 half-hours of filmed entertainment in our library—one of the world’s most extensive—we are home to such treasured franchises as Peanuts, Teletubbies, Strawberry Shortcake, Yo Gabba Gabba!, Caillou, Inspector Gadget and Degrassi. WildBrain’s mission is to create exceptional entertainment experiences that captivate and delight fans both young and young at heart.

Our studios produce such award-winning series as The Snoopy Show; Snoopy in Space; Strawberry Shortcake: Berry in the Big City; Sonic Prime; Chip and Potato; Teletubbies Let’s Go! and many more. Enjoyed in more than 150 countries on over 500 platforms, our content is everywhere kids and families view entertainment, including YouTube, where our network has garnered over 1 trillion minutes of watch time. Our television group owns and operates some of Canada’s most-viewed family entertainment channels. WildBrain CPLG, our leading consumer-products and location-based entertainment agency, represents our owned and partner properties in every major territory worldwide. 

WildBrain is headquartered in Canada with offices worldwide and trades on the Toronto Stock Exchange (TSX: WILD). Visit us at wildbrain.com.

About Sagard

Sagard is a global multi-strategy alternative asset management firm with more than US $25B under management, 150+ portfolio companies, and 300 professionals. Sagard invests in venture capital, private equity, private credit, real estate, and royalties. With offices in Canada, the United States, Europe and the Middle East, Sagard provides flexible capital, an entrepreneurial culture, and a global network of investors, commercial partners, advisors, and value-creation experts. For more information, visit www.sagard.com.

About Comvest Credit Partners

Comvest Credit Partners, the direct lending platform of Comvest Partners, focuses on providing flexible financing solutions to middle-market companies. Comvest Credit Partners provides senior secured, unitranche, and second lien capital to sponsored and non-sponsored companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations, with credit facilities up to $250 million-plus. For more information, please visit comvest.com/direct-lending.

Forward-Looking Statements

This press release contains “forward-looking statements” under applicable securities laws with respect to the Company. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties and are based on information currently available to the Company. Actual results or events may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations, among other things, include the availability of and cost of financing, general economic and market conditions and the impact of such conditions on the industries in which WildBrain operates, competition and the potential impact of industry mergers and acquisitions, market factors, WildBrain’s ability to identify and execute anticipated production, distribution, licensing and other contracts, contractual counterparty risk, the ability of WildBrain to realize the expected value of its assets, supply chain and other related disruptions, and risk factors discussed in materials filed with applicable securities regulatory authorities from time to time including matters discussed under “Risk Factors” in the Company’s most recent Annual Information Form and annual Management Discussion and Analysis. These forward-looking statements are made as of the date hereof, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

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SOURCE WildBrain Ltd.

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DIGITIMES Asia: Qualcomm circles Intel for takeover: biting off more than it can chew?

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TAIPEI, Sept. 28, 2024 /PRNewswire/ — The Wall Street Journal reported that Qualcomm has approached Intel for a potential takeover, a story later verified by CNBC. While the news initially sparked a 3% rally in Intel’s share price, significant doubts remain about the feasibility of such a deal.

According to the news report from the technology-focused media DIGITIMES Asia, a takeover could offer strategic value for Qualcomm, but the complexities of acquiring a company of Intel’s size and stature raise numerous questions. Here are the key challenges Qualcomm would need to overcome to make the deal successful:

Regulatory approval

One of the most significant obstacles is likely to be regulatory scrutiny. Given Intel’s size and market position in the semiconductor industry, antitrust authorities in multiple jurisdictions would carefully evaluate any acquisition. Concerns about market monopolization could lead to regulatory pushback or even prevent the merger altogether.

The semiconductor industry is heavily regulated, and any significant changes to the structure or operations of Intel’s foundry could attract scrutiny from antitrust authorities. Qualcomm would need to ensure that any divestitures or restructuring do not violate competition laws, particularly given Intel’s prominent position in the market.

Some argue that Qualcomm’s takeover bid could survive the competition law review because Intel is facing financial difficulties, and the two companies do not compete in the same market spaces, except for PC CPUs. However, the deal would still need to go through reviews in other countries, including China, whose passive disapproval led to the failure of Intel’s acquisition of Tower Semiconductor.

Intel’s internal resistance

Intel’s management may resist a takeover, particularly if they believe the company can turn its fortunes around independently. Qualcomm’s bid could face significant challenges if Intel’s leadership does not support the acquisition or sees it as strategically disadvantageous.

Market reaction, stakeholder support, and existing industry relationships

The success of a bid often relies on the reactions of shareholders and market stakeholders. If Intel’s shareholders see more value in maintaining independence or if there is skepticism about the strategic fit of Qualcomm acquiring Intel, this could lead to difficulties in securing the necessary support for the acquisition.

Qualcomm may need to navigate Intel’s existing relationships with its customers, partners, and suppliers, especially if those entities are concerned about the implications of a takeover.

For example, Intel’s foundry business may have existing contracts with third-party clients, including the recently announced AWS deal. If Qualcomm decides to scale back or eliminate this segment, it could lead to legal disputes or loss of revenue from already established contracts, impacting Qualcomm’s cash flow.

Financial viability

Qualcomm would need to ensure that it has the financial resources to make a competitive bid for Intel while also addressing any existing debts or liabilities Intel carries. According to Qualcomm’s financial report for the third quarter of its fiscal 2024, the three months to June 23, the company had only US$7.8 billion in cash and cash equivalents at its disposal and just over US$23 billion in total assets.

With Intel’s market value around US$93 billion, a stock-for-stock transaction is most likely for the takeover. However, Qualcomm would have to convince investors and financial institutions of the potential profitability of the acquisition, considering Intel’s financial struggles with its foundry business.

Strategic and operational alignment

The takeover offers Qualcomm numerous benefits, including a vast portfolio of intellectual properties (IPs), a significant market share in the PC chip market, and an accelerated entry into edge AI computing, a promising area for future growth.

However, merging two large organizations with distinct cultures and operational methods always presents significant challenges. Qualcomm would need to develop a comprehensive integration plan to address potential disruptions and ensure a smooth transition.

While Qualcomm’s bid to acquire Intel could theoretically provide a significant advantage in the competitive semiconductor landscape, several formidable challenges stand in the way. The success of the takeover would depend on a favorable regulatory environment, the response of Intel’s management and shareholders, solid financial backing, and a well-defined strategy that highlights the expected benefits of the consolidation.

Given the complexities involved, predicting whether Qualcomm’s bid would succeed is challenging, and it could ultimately require careful negotiation, strategic planning, and a willingness to adapt to the responses of various stakeholders.

Original link: https://www.digitimes.com/news/a20240922VL200.html

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SOURCE DIGITIMES ASIA

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Luvme Hair Celebrates 10th Anniversary with Final Mega Sale

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Luvme Hair celebrates its 10th anniversary with a Final Mega Sale, offering customers exclusive discounts of up to $110 off and special gifts. From September 24 to September 29, 2024 (EST), the sale applies to all products, including the brand’s premium wigs and hair extensions. Founder Helena Lee expressed gratitude to the loyal customers who have supported the brand over the past decade, highlighting the sale as a way to give back. For more details and to participate, visit the official Luvme Hair website.

NEW YORK, Sept. 28, 2024 /PRNewswire-PRWeb/ — Luvme Hair, a leading brand in the human hair wigs industry, proudly celebrates its 10th anniversary with a Final Mega Sale, offering exclusive discounts and gifts as part of its anniversary celebration. The event provides new and returning customers the chance to enjoy significant savings across all product categories.

Event Details:

Event Duration: September 24September 29, 2024 (EST)

Discounts: Up to $110 off

Discount Codes:

Spend $139, get $20 off with code: 10TH20Spend $179, get $30 off with code: 10TH30Spend $279, get $60 off with code: 10TH60Spend $389, get $110 off with code: 10TH110

Applicable Products: All products sitewide

Event Link: https://shop.luvmehair.com/collections/luvmehair-wig-sale

The Final Mega Sale marks the culmination of Luvme Hair’s 10th-anniversary celebration and offers a unique opportunity for customers to experience premium-quality wigs, extensions, and accessories at reduced prices. The upgraded discount structure allows shoppers to save more as they spend more, making this event the perfect time to invest in high-quality, versatile human hair wigs.

Visit the official Luvme Hair website, apply discount codes at checkout, and enjoy savings of up to $110.

Helena Lee, the founder of Luvme Hair, shared her thoughts on the 10th anniversary: “Celebrating this milestone reflects the loyalty and support that Luvme Hair has received over the past 10 years. The Final Sale is a way to give back to our customers by offering enhanced savings and gifts. We are excited to continue empowering individuals through our wigs and hair extensions and look forward to many more years of innovation.”

About Luvme Hair:

Luvme Hair is a reputable brand in the hair wigs industry, known for its high-quality human hair wigs, glueless wigs, curly wigs, bob wigs, Bundles With Closure and clip in hair extensions that allow individuals to effortlessly switch up their looks. With a focus on innovation, creativity, quality, and customer satisfaction, Luvme Hair has garnered a loyal customer base globally, with over 2 million satisfied customers. For more information about Luvme Hair and its products, please visit their official website at Luvme Hair.

Media Contact

Jian Mei, Luvme Hair, 1 13016070827, tgyxzx808@gmail.com, Luvme Hair

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Learnologyworld Unveils New Domain and Partnerships for Enhanced IT Training

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Discover Learnologyworld’s new domain, learnologyworld.net, and exciting partnerships with Phoenix Computer Academy and WiFi Training Voucher. Expand your IT skills today!

LOS ANGELES, Sept. 28, 2024 /PRNewswire/ — Learnologyworld, the premier resource for online IT training and certification, is proud to announce two exciting new developments. This includes a brand new website domain, learnologyworld.net, and partnerships with key players in the IT training space.

Learnologyworld’s new website is available now at learnologyworld.net. The old domain, learnologyworld.com, will remain live until October 18, 2024, but visitors are encouraged to update their bookmarks to the new official home of Learnologyworld. The new domain’s launch represents Learnologyworld’s ongoing growth and innovation and its dedication to providing enhanced online experiences.

Manuel End, Co-Founder and CEO of Learnologyworld, said of the new domain, “This transition marks a significant milestone in Learnologyworld’s development, and I couldn’t be more excited.”

Learnologyworld has also teamed up with Phoenix Computer Academy (phxcomputeracademyshop.com) and WiFi Training Voucher (wifitrainingvouchers.com), two established names in online IT training and certification. This strategic expansion of Learnologyworld’s certification offerings will enhance the educational journey for both IT newcomers and experienced pros looking to add new skills.

“These exciting collaborations allow us to offer an expanded product selection, adding industry-recognized training and certification programs that our customers have long asked for,” End said. Phoenix Computer Academy offers a broad range of IT certifications, and WiFi Training Voucher specializes in real-world network training.

Learnologyworld is a leading provider of online IT training and certification programs. The company’s international presence provides learners with a global perspective on the latest trends in information technology.

IT professionals who want to add new certifications to their resumes and beginners in the field can find out more about Learnologyworld’s training programs online at https://learnologyworld.net.

About Learnologyworld

Learnology World is an online platform that provides IT professionals with the necessary expertise to succeed in the digital age. With years of experience, the platform offers a variety of certification materials, including exam vouchers for DevOps, Autodesk, and Linux users.

For media inquiries or to learn more about Learnology World’s latest discounted materials and certifications for advancing your IT career, visit learnologyworld.com.

Press Contact

Bella Rose
7402177670
https://www.learnologyworld.net/

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