Bandwidth Inc. Bolsters Finances, COO Resigns, Streamlines Debt
Company Announcements

Bandwidth Inc. Bolsters Finances, COO Resigns, Streamlines Debt

Bandwidth Inc (BAND) has issued an announcement.

Bandwidth Inc. has strengthened its financial position by amending its credit agreement, doubling its credit line to $100 million and extending its maturity date to May 2029. Meanwhile, COO Anthony Bartolo is set to resign after a transition period, not due to any internal disagreements. Additionally, the company is streamlining its debt by repurchasing $140 million of its convertible notes for $127.5 million in cash, with the transactions anticipated to conclude by May 9, 2024. This strategic financial management showcases Bandwidth’s proactive approach to ensuring robust liquidity and a solid balance sheet.

For an in-depth examination of BAND stock, go to TipRanks’ Stock Analysis page.

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