By Wendy Van Sickle
Columbus, Ohio, Sept. 21 – Optiva Inc. entered into a commitment letter under which it agreed to issue to EdgePoint Investment Group Inc. an additional $13.5 million of 9¾% PIK toggle due June 2025, according to a news release.
The notes will have the same terms as and will rank pari passu with the company’s existing notes. The company issued $90 million secured 9¾% PIK toggle notes due 2025 in July 2020, as previously reported by Prospect News.
Optiva plans to use proceeds for general working capital.
Based in Toronto, the company provides cloud service providers with cloud-native revenue management software.
| Issuer: | Optiva Inc.
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| Amount: | $13.5 million
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| Issue: | Secured PIK toggle notes
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| Maturity: | June 2025
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| Coupon: | 9¾%
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| Distribution: | Private placement
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| Investor: | EdgePoint Investment Group Inc.
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| Announcement date: | Sept. 21
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| Settlement date: | Sept. 29
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