Here are three things to know.
1. The company plans to use the debt financing in three ways: to “replace existing debt at lower rates and extended maturities, fund cash to the balance sheet for growth and pay a dividend to shareholders.”
2. Overall, Ability’s debt financing and positive financial performance are expected to result in leverage ratios at the same level as when Summit Partners and Bain Capital Ventures invested in the company three years ago, a news release states.
3. Ability CEO and chairman Mark Pulido said of the debt financing, “This financing enables us to execute on our balanced approach to capital stewardship: investing in the growth of our customers and employees, offering new products to help providers, and returning capital to our shareholders.”
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