- Dynata to fully emerge from the Chapter 11 Process in the
coming days, eliminating 40% of its total debt
- Dynata to receive $50
million in exit financing - New Equity Owners have provided
$81.5 million in total financing
- Dynata boasts an unrivalled approach to delivering the
highest quality, reliable, accurate consumer insights data
worldwide
- Dynata plan was court approved without the need for a formal
confirmation hearing - which is a strong endorsement of the
Company's emergence plan
SHELTON,
Conn., July 2, 2024 /PRNewswire/ -- Dynata, LLC
("Dynata" or the "Company"), the most trusted source for reliable,
accurate first-party data —announced today that the U.S. Bankruptcy
Court for the District of Delaware
has confirmed the Company's Financial Restructuring Plan. The
confirmation hearing comes approximately five weeks after the
Company's prepackaged Chapter 11 filing.
Mike Petrullo, Chief Executive
Officer of Dynata said, "I am delighted that we have achieved this
significant milestone, marking another stride towards advancing our
business transformation. I deeply appreciate the steadfast support
of our lenders which has enabled us to achieve this outcome on an
expedited basis. I am thankful to the Dynata team who have
committed themselves to building a best-in-class brand and to all
of our loyal clients. Looking ahead, we are eager to commence the
second half of the year with a strengthened balance sheet, and an
unrelenting focus on delivering the highest-quality, reliable,
accurate consumer insights data and services for our clients."
Dynata is renowned for having an unmatched commitment to data
quality. In May, Dynata achieved further recognition by winning the
overall 2024 I-COM Global Data Creativity Awards, securing first
place in the Data Quality category.
Under the approved plan, Dynata reduced almost 40% of its total
debt from approximately $1.3 billion
to $780 million in exchange for the
first and second lien holders to own 100% of the equity in the
newly reorganized Company.
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