Everbridge Receives $90,000,000 New Financing

  • Feed Type
  • Date
    9/15/2016
  • Company Name
    Everbridge
  • Mailing Address
    500 North Brand Boulevard Glendale, CA 91203 USA
  • Company Description
    Everbridge (Nasdaq: EVBG) automates critical communications in an instant to ensure the right people receive the right messages quickly.
  • Website
    http://www.everbridge.com
  • Transaction Type
    IPO
  • Transaction Amount
    $90,000,000
  • Transaction Round
    Undisclosed
  • Proceeds Purposes
    Although we have not yet determined with certainty the manner in which we will allocate the net proceeds of this offering, we expect to use the net proceeds from this offering for working capital and other general corporate purposes, including investments in sales and marketing in the United States and internationally and in research and development. We also intend to use approximately $10.8 million of the net proceeds to pay (i) all outstanding principal and interest under our revolving line of credit with Western Alliance Bank, which carries a current interest rate of the prime rate, but in no event less than 3.25%, plus 0.75% and terminates in June 2018 and (ii) all outstanding principal and interest under our term loan with Western Alliance Bank, which carries a current interest rate of the prime rate, but in no event less than 3.25%, plus 1.75% and is due and payable in June 2019.
  • M&A Terms

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