Exclusive Restructuring Advisor
Project Modem
About the Company
The Company develops and licenses innovative technologies utilized by telecommunications providers worldwide. Their market-leading AI-driven solutions make internet connections run faster and more reliably by optimizing the performance of whatever infrastructure is in place, be it copper wires, fiber, or various generations of Wi-Fi including Wi-Fi 6, or 5G.
Exclusive Restructuring Advisor
Situation
The Company borrowed $20MM in late 2020 from a private lender consortium serving the middle market, then tripped covenants in the first two full quarters due to lower-than-expected revenue stemming from large customer misses. The outlook for business performance was poor, which would prevent the Company from a quick recovery from its breach. The lender further complicated the situation by announcing its desire to exit the relationship, and accordingly sent a highly aggressive restructuring proposal. The Company needed a financial advisor to help it formulate a constructive response to the lender and advocate for reasonable, market-based solutions to an increasingly challenging situation.
Engagement
The Company engaged G2 as financial advisor to provide assistance in preparing for and executing negotiations with its lender toward a forbearance agreement or amendment with its lender.
Outcome
G2 helped the Company navigate lender discussions and reach agreement with its lenders on an amendment in late 2021. Six months later the Company re-engaged with G2 for advisory assistance as it evaluated acquisition offers and further restructuring. The Company ultimately accepted an acquisition offer.
Contact
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Whether you are experiencing strong growth or periods of distress, our team is exceptionally prepared to support your strategic objectives with bespoke solutions. There is no one size fits all approach.