Direct Digital Holdings Announces Strategic $20M Equity Reserve Facility To Accelerate Growth Plan With New Circle Principal Investments LLC
Portfolio Pulse from Benzinga Newsdesk
Direct Digital Holdings, Inc. (NASDAQ:DRCT) has announced a $20 million Equity Reserve Facility with New Circle Principal Investments LLC to support its growth initiatives. The funds will be used to reduce debt, strengthen the balance sheet, and drive growth across its subsidiaries.
October 21, 2024 | 1:01 pm
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Direct Digital Holdings has secured a $20 million Equity Reserve Facility with New Circle Principal Investments LLC. This facility allows the company to sell shares up to $20 million over 36 months, which will be used to reduce debt, strengthen the balance sheet, and support growth initiatives.
The $20 million Equity Reserve Facility provides Direct Digital Holdings with financial flexibility to reduce debt and invest in growth initiatives. This strategic move is likely to positively impact the company's stock price in the short term as it strengthens its financial position and supports expansion.
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