- NextPoint (NPF.U) has amended its revolving credit facility with affiliates of Basepoint Capital
- The amendment provides for a new $74.4 million term loan to LT Holdco, a NextPoint subsidiary
- NextPoint will use proceeds from the loan for working capital and pay down borrowings under an existing revolving credit facility
- NextPoint offers financial services to empower hardworking and underserved consumers and small businesses
- NextPoint Financial (NPF.U) is unchanged, trading at US$3 per share
NextPoint (NPF.U) has amended its revolving credit facility with affiliates of Basepoint Capital.
The amendment provides for a new $74.4 million term loan to LT Holdco, a NextPoint subsidiary.
NextPoint will use proceeds from the loan for working capital and pay down borrowings under an existing revolving credit facility.
Debt for NextPoint’s Community Tax subsidiary continues to be funded by a $45 million first-lien term loan and a $25 million principal amount of second-lien term loans with existing lenders related to the December 2021 acquisition.
“As we approach tax season, this support from our existing lenders, led by Basepoint Capital, provides a solid working capital position to fund NextPoint and our Liberty Tax subsidiary operations,” stated Brent Turner, NextPoint’s CEO. “The amended agreement also maintains good standing with respect to debt covenants going forward.”
NextPoint offers financial services to empower hardworking and underserved consumers and small businesses. The company’s solutions include Liberty Tax, a leading provider of tax preparation services, and Community Tax, a tax debt resolution advocate.
NextPoint Financial (NPF.U) is unchanged, trading at US$3 per share as of 12:50 pm ET.
