GoTo Group, Inc. announced the launch of a debt exchange offer open to all of its existing term loans (the "Existing Term Loans") and its 5.50% Senior Secured Notes due 2027 (the "Existing Notes"), pursuant to an agreement with a majority of holders of its Existing Term Loans and Existing Notes. All exchange participants will receive new term loans or new notes, as applicable, with an improved security position, and tighter covenants and other restrictions. The exchange offer is open to all lenders and noteholders.

The Company also confirms that on February 5, 2024, a private debt exchange transaction was consummated withholders of a majority of its Existing Term Loans. Signaling stakeholders' confidence in the Company, certain lenders collectively invested $100 million in connection with the closing of the debt exchange. In addition, concurrent with the closing of the private debt exchange, 100% of the revolving lenders agreed to extend the maturity of the $250 million revolving credit facility for over 2 years, further strengthening the company's liquidity position.

The Company expects to significantly decrease its debt balance and reduce its interest expense as part of the transaction. The exchange of the company?s Existing Term Loans will be open until February 12, 2024, and the exchange of the company?s Existing Notes will be open until March 5, 2024, with an early tender date on February 16, 2024, for early exchange consideration as set forth in a Confidential Exchange Offering Memorandum.