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ZeroFox Holdings (ZFOX) just unveiled an update.
In a significant move within the financial market, ZI Intermediate I, Inc. secured a $120 million credit agreement with Monroe Capital Management Advisors, LLC, to support a merger, refinance debt, and cover related expenses. Meanwhile, existing 7.00%/8.75% Convertible Senior Cash/PIK Toggle Notes were repurchased at a value of approximately $174.4 million, and all shares of company stock were converted into a right to receive a cash payment per share at the merger’s effective time. This strategic financial maneuvering is set to reshape the company’s financial structure and stockholder relations, signaling a new chapter for the firm post-merger.
Learn more about ZFOX stock on TipRanks’ Stock Analysis page.
