Flexential announced that its parent, Flexential Intermediate Corporation, issued $250 million of Senior Secured Notes due 2024.
Over the last two years, Flexential experienced robust customer demand in its core markets and has added additional capacity in response. Flexential will utilize the net proceeds from the offering, to support continued expansion in its key markets as well as to fund additional investments in support of its hybrid IT solutions offering. The notes and the guarantees will not be registered under the Securities Act or the securities laws of any state or any other jurisdiction and may not be offered or sold in the United States absent an effective registration statement or an applicable exemption from the registration requirements under the Securities Act and applicable state securities laws and foreign securities laws.
Chris Downie, Chief Executive Officer at Flexential said,
“We are pleased that the financing provides Flexential with long-term capital to support our continued expansion. We continue to see robust demand for our connectivity-rich platform and look forward to expanding our offerings to meet market demand.”