Rocket Fuel amends covenants under revolver and term loan agreement

By Marisa Wong

Madison, Wis., Nov. 6 – Rocket Fuel Inc. entered into a second amendment on Oct. 31 to its amended and restated revolving credit and term loan agreement dated Dec. 20, 2013 with Comerica Bank as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The amendment permits Rocket Fuel to dispose of its interests in its subsidiary, Wireless Developer, Inc., and waives the company’s requirements to have Wireless Developer provide a secured guaranty of its obligations under the credit agreement.

In addition, the amendment modifies the minimum EBITDA covenant and the limitation on capital expenditure covenant.

The changes are effective as of Sept. 30.

The borrower is a Redwood City, Calif., company that uses artificial intelligence to improve digital advertising.

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