Urgently Announces Short-Term Extensions of Term Loans By Investing.com

VIENNA, Va., Dec. 31, 2024 (GLOBE NEWSWIRE) — Urgent.ly Inc. (Nasdaq: ULY) (Urgently), a leading U.S.-based provider of digital roadside and mobility assistance technologies and services, today announced that it has reached an agreement with its lenders on a short-term extension of its term loan agreements while it continues to work on more toward long-term extensions Has agreed with its first lien lenders to, among other things, prepay $3 million of its first lien term loans in aggregate principal amount, together with certain fees applicable thereto, and to extend the maturity of such term loans to February 1, 2025. Has agreed with its second lenders to, among other things, extend the term of its second lien. loans provided until March 3, 2025.

We are pleased to announce the short-term extension of our debt facilities as we continue to have constructive discussions with our lenders to finalize long-term extensions in the coming weeks, said Urgently Chief Financial Officer Tim Huffmeier The extensions are consistent with our goals of reducing debt and improving our capital structure.We are also advancing discussions with lenders to refinance and/or refinance our existing debt facilities to enter into a debt loan.

About urgency

Urgently is focused on helping everyone get around safely, without disruption, by protecting drivers, immediately supporting their journey and applying technology to prevent potential problems. The company’s digital native software platform combines location-based services, real-time data, artificial intelligence and vehicle-to-vehicle communication to provide roadside assistance solutions for leading brands in the automotive, insurance, telecom and other transportation verticals demand for services, enabling its partners to deliver exceptional user experiences that drive high customer satisfaction and loyalty by delivering innovative, transparent and exceptional mobility experiences on a global scale.For more information, visit www.geturgently.com.

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Forward-looking statements

This press release contains or may contain forward-looking statements within the meaning of Section 21E of the Securities Act of 1933, as amended, and the Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or “Urgently”. future financial or operating performance. Such statements are based on Urgently’s management’s current plans, estimates and based on expectations, taking into account historical results and trends, current conditions and possible future developments, and are subject to various risks and uncertainties that could cause actual results to differ materially from such statements. The inclusion of forward-looking statements should not be considered as such plans, estimates and evidence of fulfillment of expectations Forward-looking terms such as may, will, should, will, plan, potential, intend, anticipate, anticipate, predict, intend, believe, continue, estimate or expect or the negative of these words, terms and phrases. Forward-looking statements of a similar nature are often intended to identify, although not all forward-looking statements contain such identifying words. except for historical facts, including, without limitation, statements by the Company to secure a long-term extension of its debt facilities, to refinance its debt facilities and/or to enter into new debt facilities Statements regarding the Company’s ability and intentions to reduce its debt and improve its capital structure are based on Urgently’s management’s current assumptions and are neither promises nor guarantees, but include a number of factors that may cause our actual performance or achievements differ materially from any future performance or achievements expressed or implied by forward-looking statements.For factors that could cause actual results to differ materially from those in this press release forward-looking statements, please see the risks and uncertainties detailed in the Securities and Exchange Commission (SEC), including our Annual Report on Form 10.K for the year ended December 31, 2023, filed with the SEC in March 2024. 29, our quarterly reports on Form 10-Q, including: Our Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, filed with the SEC on November 13, 2024, and other documents and reports we may file with the SEC from time to time All forward-looking statements reflect Urgently’s beliefs and assumptions are only as of the date of this press release. Urgently undertakes no obligation to update forward-looking statements to reflect future events or circumstances.

Source: Urgent.ly Inc.