Fluent, Inc. Enters into Limited Consent and Amendment No. 11 to Credit Agreement; Announces Board Changes
April 02, 2020 at 09:03 am EDT
Share
On April 1, 2020, Fluent, LLC entered into Limited Consent and Amendment No. 11 to Credit Agreement (the Amendment), among Fluent, LLC, as Borrower, Fluent, Inc., certain subsidiaries of the Company party thereto, the financial institutions party thereto, as lenders, and Whitehorse Finance, Inc., as Administrative Agent, amending the term loan facility originally dated as of December 8, 2015.
On March 27, 2020, Peter Benz submitted a notice of his resignation from the Company's Board of Directors, effective April 1, 2020. Mr. Benz was the chair of the Audit Committee and a member of the Compensation and Corporate Governance and Nominating Committee of the Board of Directors. Mr. Benz's decision to resign was not due to any disagreement with the Company on any matter relating to its operations, policies or practices. On March 30, 2020, the Board appointed director and Audit Committee member Barbara Shattuck Kohn as chair of the Audit Committee.
Fluent, Inc. is engaged in performance marketing, delivering customer acquisition solutions through its digital media portfolio, global commerce partnerships, and proprietary data and tech. The Company offers brands to consumers through outcome-based programs across untapped channels, including its post-transaction ad solution and reward discovery platform. The Company delivers data and performance-based customer acquisition services for over 500 consumer brands, direct marketers, and agencies across a range of industries, including media & entertainment, financial products & services, health & life sciences, retail & consumer, and staffing & recruitment. It operates a call center performance marketplace that provides live-call-based performance campaigns to help clients increase engagement. Through AdParlor, LLC (AdParlor), it conducts its non-core business which offers clients various social media strategies through the planning and buying of media on different platforms.