Blue Torch Finance LLC acquired substantially all of the assets of Troika Media Group, Inc. (OTCPK:TRKA.Q) for $51 million.
March 29, 2024
Share
Blue Torch Finance LLC entered into an asset purchase agreement to acquire substantially all of the assets of Troika Media Group, Inc. (OTCPK:TRKA.Q) for $51 million on December 7, 2023. Under the terms of the transaction the total purchase price includes (i) credit bid equal to the outstanding obligations under DIP facility upto $11 million and outstanding obligations under the Prepetition Financing Agreement upto $40 million. Troika Media is seeking approval of the proposed stalking horse credit bid pursuant to section 363 of the United States Bankruptcy Code. The transaction is subject to Third-party consent, DIP financing, bankruptcy court approval, and Antitrust approval under HSR Act, Sherman Act, Clayton Act, and Federal Trade Commission Act.
Brian Lennon, Maurice Lefkort and Hugh McLaughlin of Willkie Farr & Gallagher LLP is acting as legal counsel to Troika. Jefferies LLC and Areté Capital Partners are serving as the Troika Media's investment banker and financial adviser, respectively. Roger G. Schwartz and Timothy M. Fesenmyer of King & Spalding LLP and Ankura Consulting Group, LLC are serving as legal counsel and financial advisor, respectively, to Blue Torch.
Blue Torch Finance LLC completed the acquisition of substantially all of the assets of Troika Media Group, Inc. (OTCPK:TRKA.Q) on March 1, 2024.
Troika Media Group, Inc. is a consumer engagement and customer acquisition consulting and solutions company. It is also a professional services company that architects and builds enterprise value in consumer-facing brands. It delivers three solutions pillars that create brands and experiences and connect consumers through emerging technology products and ecosystems to deliver performance-based measurable business outcomes. It delivers both managed services and performance-based marketing services to customers. It provides managed and professional services, such as, media planning, media buying, media ROI measurement, and media or marketing performance reporting. It provides its clients with the ability to pay for a marketing or sales event rather than incurring the media and service expenses on a managed service engagement. It has expertise in consumer sectors, including insurance, financial services, home improvement, residential services, legal, professional services and others.
TROIKA MEDIA GROUP, INC. 
