Dynata Secures DIP Financing After Successful Prepackaged Chapter 11 First Day Hearing

• $81.5 million in New Money Financing Committed by New Equity Owners, $31.5 million of which recently was funded
  
  
• Emergence From Chapter 11 Set for Early July 2024

SHELTON, Conn., May 28, 2024 /PRNewswire/ -- Dynata, LLC ("Dynata" or the "Company"), the most trusted source for reliable, accurate first-party data — announced today that the Company has successfully concluded its first day prepackaged chapter 11 hearing and received $31.5M in new financing, with access to another $50 million in new financing set for early July 2024 following emergence from its short chapter 11.

Dynata submitted a prepackaged chapter 11 filing in the United States Bankruptcy Court for the District of Delaware on May 22, 2024. The filing included a restructuring support agreement under which substantially all of its lenders agreed to support Dynata's chapter 11 plan and extend $31.5 million in debtor in possession ('DIP') financing and $50 million in exit financing. The Company continues to operate without interruption and its 36-month transformation plan to support the Company's long-term growth strategy remains on track. 

"We are happy to report that Dynata is operating business as usual," said Mike Petrullo, Chief Executive Officer of Dynata. "We are paying our vendors, partners, and employees in full and on time and continue to provide high-quality service to our customers.  This prepackaged filing has been crucial to securing Dynata's future, as our transformation plan continues unabated, and we are well positioned for growth. I am excited to start the second half of the year with a significantly deleveraged balance sheet, fresh capital, and increased momentum, with no business disruption in the meantime."

Willkie Farr & Gallagher LLP is serving as Dynata's legal advisor in connection with the restructuring.  Alvarez & Marsal North America, LLC serves as its restructuring advisor and Houlihan Lokey, Inc. serves as its investment banker.

Gibson, Dunn & Crutcher LLP is serving as lead counsel and PJT Partners LP is serving as investment banker to an ad hoc group of controlling first lien lenders in connection with the restructuring.  

Vinson & Elkins LLP is serving as lead counsel and Lazard is serving as investment banker to an ad hoc group of controlling second lien lenders in connection with the restructuring.  

About Dynata
Dynata is the world's largest first-party data company for insights, activation and measurement. With a reach that encompasses 70 million consumers and business professionals globally, and an extensive library of individual profile attributes collected through surveys, Dynata is the cornerstone for precise, trustworthy quality data. The Company has built innovative data services and solutions around its robust first-party data offering to bring the voice of the customer to the entire marketing continuum — from uncovering insights to activating campaigns and measuring cross-channel marketing return on investment. Dynata serves more than 6,000 market research, media and advertising agencies, publishers, consulting and investment firms and corporate customers in North America, South America, Europe and Asia-Pacific. Learn more at www.dynata.com.

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SOURCE Dynata