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, various generations of Wi-Fi including Wi-Fi 6, or 5G.

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 preapring 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.

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