Urgently Announces Short-Term Extensions of Term Loans

Associated Press

31-01-2025

VIENNA, Va., Jan. 31, 2025 (GLOBE NEWSWIRE) -- Urgent.ly Inc. (Nasdaq: ULY) ('Urgently'), a U.S.-based leading provider of digital roadside and mobility assistance technology and services, announced today that it has reached an agreement with its lenders on a short-term extension to its term loan agreements while it continues to work on overall capital structure improvements. Urgently has agreed with its first lien lenders, among other things, to a short-term extension of the maturity date of such term loans until February 15, 2025. Urgently has agreed with its second lien lenders, among other things, to a short-term extension of its second lien term loans until March 17, 2025.
'We are pleased to have announced the short-term extensions of the maturity dates of our debt facilities as we finalize discussions with our lenders to refinance our existing debt facilities,' said Tim Huffmyer, Chief Financial Officer of Urgently. 'The short-term extensions are consistent with our goals of reducing our debt and improving our capital structure.'
About Urgently
Urgently is focused on helping everyone move safely, without disruption, by safeguarding drivers, promptly assisting their journey, and employing technology to proactively avert possible issues. The company's digitally native software platform combines location-based services, real-time data, AI and machine-to-machine communication to power roadside assistance solutions for leading brands across automotive, insurance, telematics and other transportation-focused verticals. Urgently fulfills the demand for connected roadside assistance services, enabling its partners to deliver exceptional user experiences that drive high customer satisfaction and loyalty, by delivering innovative, transparent and exceptional connected mobility assistance experiences on a global scale. For more information, visit www.geturgently.com.
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Forward-Looking Statements
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