Blackline Systems Obtains $146,000,000 New Financing Round

  • Feed Type
  • Date
    10/28/2016
  • Company Name
    Blackline Systems
  • Mailing Address
    21300 Victory Boulevard Woodland Hills, CA 91367 USA
  • Company Description
    BlackLine (NASDAQ: BL) is the worlds most trusted solution for Finance Controls & Automation for delivering powerful real-time automation to accounting & finance teams.
  • Website
    http://www.blackline.com
  • Transaction Type
    IPO
  • Transaction Amount
    $146,000,000
  • Transaction Round
    Undisclosed
  • Proceeds Purposes
    We currently intend to use the net proceeds we receive from this offering to repay the entire outstanding balance under our credit facility and for general corporate purposes, including working capital, research and development activities, sales and marketing activities, general and administrative matters and capital expenditures and to fund our growth plans. We entered into a term loan under our credit facility in September 2013, or the 2013 Term Loan. In March 2016, we amended our credit facility to add an additional $5.0 million term loan, or the 2016 Incremental Term Loan. As of June 30, 2016, an aggregate of $35.7 million of principal was outstanding under our credit facility. In August 2016, we amended our credit facility again, pursuant to which we borrowed an additional $30 million under a new term loan, or the 2016 Acquisition Term Loan. We used the proceeds from the 2016 Acquisition Term Loan and cash on hand to acquire Runbook, and we used the proceeds from the 2016 Incremen
  • M&A Terms

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