The US Bankruptcy Court gave an order to Loyalty Ventures Inc. to obtain DIP financing on final basis on April 4, 2023. As per the order, the debtor has been authorized to obtain up to $30 million delayed-draw senior secured priming term loan facility from LoyaltyOne, Co. The DIP loan would either carry an interest rate base rate plus 6.00% p.a. payable in cash on the maturity date on the unpaid principal amount of all DIP Loans, shall bear interest at a rate equal to 2.00% per annum.

The DIP facility would mature either on shall be repaid in full on the earlier to occur of Termination Date, the occurrence of any Event of Default, that is continuing, has not been cured or waived in writing by the DIP Lender or on the effective date of the plan. Adequate protection would be provided to the DIP lenders in the form of super-priority administrative expense claims which is subject to a carve-out of $0.05 million towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor's collateral.