Quorum Information Technologies (TSE:QIS) has released an update.
Quorum Information Technologies has proactively reduced its debt by making a $2.5 million prepayment on its BDC Capital Facility, bringing down the principal from $8.7 million to $6.2 million and saving $0.24 million in annual interest. This move, fueled by excess cash reserves, follows a pattern of consistent debt reduction, including a recent $4.0 million repayment, and is supported by the company’s strong Q1 financials featuring $2.1 million in Adjusted EBITDA.
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