Modivcare Secures $105 Mln in Funding From Stakeholders

Dow Jones

01-10

By Chris Wack

Modivcare said Friday that it has secured $75 million in incremental financing, backed by stakeholders across the capital structure, and has appointed Chad Shandler as its chief transformation officer.

The healthcare services company said existing investor Coliseum Capital Management has also committed $30 million to buy new second lien senior notes due 2029, subject to a stockholder vote.

As part of the financing agreement, lenders have agreed to amend the company's existing credit agreement in order to provide covenant relief.

The company is adding three independent directors to its board.

Modivcare said that these initiatives, along with a strategic review of its assets, are intended to strengthen its financial foundation, enhance operational performance and position it for future sustainable growth. Modivcare has engaged advisors to conduct a strategic review of its assets, which may include the potential sale of some assets.

The new financing will provide Modivcare with additional liquidity to support its strategic initiatives.

The Company has withdrawn its previously-stated revenue for fiscal 2024 and related forward-looking statements due to changes in the business and overall environment.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

January 10, 2025 06:33 ET (11:33 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。

熱議股票

1
2
3
4
5
6
7
8
9
10

{"basename":"/hant","ssrTDKData":{"titleTemplate":"%s - 老虎證券","title":"老虎证券全球投资理财平台| 一站式投资美股新股港股A股","description":"老虎证券助您一站式投资美股，新股，港股，A股等全球金融理财产品。新加坡华人最信赖的在线投资平台，现在加入即享低费用，24/5 无时差炒美股投资理财！","keywords":"老虎證券,老虎證券開戶,老虎券商,老虎證券官網,老虎證券app,tigertrade老虎證券,股票,炒股,新加坡股票交易平臺,投資,投資理財","social":{"ogDescription":"老虎证券助您一站式投资美股，新股，港股，A股等全球金融理财产品。新加坡华人最信赖的在线投资平台，现在加入即享低费用，24/5 无时差炒美股投资理财！","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/hant/news/2502585912"},"companyName":"老虎證券"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2502585912\",edition:\"fundamental\",,,undefined,":{"share":"https://ttm.financial/m/news/2502585912?lang=zh_TW&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-01-10 19:33","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2502585912","market":"fut","top_or_hot":-1,"title":"Modivcare Secures $105 Mln in Funding From Stakeholders","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Chris Wack \n</p>\n<pre>\n \n</pre>\n<p>\n  Modivcare said Friday that it has secured $75 million in incremental financing, backed by stakeholders across the capital structure, and has appointed Chad Shandler as its chief transformation officer. \n</p>\n<p>\n  The healthcare services company said existing investor Coliseum Capital Management has also committed $30 million to buy new second lien senior notes due 2029, subject to a stockholder vote. \n</p>\n<p>\n  As part of the financing agreement, lenders have agreed to amend the company's existing credit agreement in order to provide covenant relief. \n</p>\n<p>\n  The company is adding three independent directors to its board. \n</p>\n<p>\n  Modivcare said that these initiatives, along with a strategic review of its assets, are intended to strengthen its financial foundation, enhance operational performance and position it for future sustainable growth. Modivcare has engaged advisors to conduct a strategic review of its assets, which may include the potential sale of some assets. \n</p>\n<p>\n  The new financing will provide Modivcare with additional liquidity to support its strategic initiatives. \n</p>\n<p>\n  The Company has withdrawn its previously-stated revenue for fiscal 2024 and related forward-looking statements due to changes in the business and overall environment. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Chris Wack at chris.wack@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 10, 2025 06:33 ET (11:33 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Modivcare Secures $105 Mln in Funding From Stakeholders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nModivcare Secures $105 Mln in Funding From Stakeholders\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time smaller\">2025-01-10 19:33</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Chris Wack \n</p>\n<pre>\n \n</pre>\n<p>\n  Modivcare said Friday that it has secured $75 million in incremental financing, backed by stakeholders across the capital structure, and has appointed Chad Shandler as its chief transformation officer. \n</p>\n<p>\n  The healthcare services company said existing investor Coliseum Capital Management has also committed $30 million to buy new second lien senior notes due 2029, subject to a stockholder vote. \n</p>\n<p>\n  As part of the financing agreement, lenders have agreed to amend the company's existing credit agreement in order to provide covenant relief. \n</p>\n<p>\n  The company is adding three independent directors to its board. \n</p>\n<p>\n  Modivcare said that these initiatives, along with a strategic review of its assets, are intended to strengthen its financial foundation, enhance operational performance and position it for future sustainable growth. Modivcare has engaged advisors to conduct a strategic review of its assets, which may include the potential sale of some assets. \n</p>\n<p>\n  The new financing will provide Modivcare with additional liquidity to support its strategic initiatives. \n</p>\n<p>\n  The Company has withdrawn its previously-stated revenue for fiscal 2024 and related forward-looking statements due to changes in the business and overall environment. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Chris Wack at chris.wack@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 10, 2025 06:33 ET (11:33 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MODV","symbol_name":"ModivCare Inc.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2502585912","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2502585912","pubTimestamp":1736508780,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Modivcare said Friday that it has secured $75 million in incremental financing, backed by stakeholders across the capital structure, and has appointed Chad Shandler as its chief transformation officer.The healthcare services company said existing investor Coliseum Capital Management has also committed $30 million to buy new second lien senior notes due 2029, subject to a stockholder vote.As part of the financing agreement, lenders have agreed to amend the company's existing credit agreement in order to provide covenant relief.The company is adding three independent directors to its board.Modivcare said that these initiatives, along with a strategic review of its assets, are intended to strengthen its financial foundation, enhance operational performance and position it for future sustainable growth. Modivcare has engaged advisors to conduct a strategic review of its assets, which may include the potential sale of some assets.The new financing will provide Modivcare with additional liqu","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"MODV":"ModivCare Inc.","BK4196":"保健护理服务","IE00BFMHRM44.USD":"NEUBERGER BERMAN GLOBAL EQUITY MEGATRENDS \"A\" (USD) ACC"},"translate_title":"Modivcare从利益相关者那里获得1.05亿美元的资金","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MODV":0.9},"content_text":"By Chris Wack \n\n\n \n\n\n  Modivcare said Friday that it has secured $75 million in incremental financing, backed by stakeholders across the capital structure, and has appointed Chad Shandler as its chief transformation officer. \n\n\n  The healthcare services company said existing investor Coliseum Capital Management has also committed $30 million to buy new second lien senior notes due 2029, subject to a stockholder vote. \n\n\n  As part of the financing agreement, lenders have agreed to amend the company's existing credit agreement in order to provide covenant relief. \n\n\n  The company is adding three independent directors to its board. \n\n\n  Modivcare said that these initiatives, along with a strategic review of its assets, are intended to strengthen its financial foundation, enhance operational performance and position it for future sustainable growth. Modivcare has engaged advisors to conduct a strategic review of its assets, which may include the potential sale of some assets. \n\n\n  The new financing will provide Modivcare with additional liquidity to support its strategic initiatives. \n\n\n  The Company has withdrawn its previously-stated revenue for fiscal 2024 and related forward-looking statements due to changes in the business and overall environment. \n\n\n \n\n\n  Write to Chris Wack at chris.wack@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 10, 2025 06:33 ET (11:33 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"code":"91000000","status":"200"}}}