Troika Media receives final approval of $11 million DIP financing

By Sarah Lizee

Olympia, Wash., Feb. 7 – Troika Media Group, Inc. received final approval of an $11 million debtor-in-possession facility, according to a final order filed Wednesday with the U.S. Bankruptcy Court for the Southern District of New York.

Blue Torch Finance LLC is the administrative and collateral agent.

As previously reported, the company plans to implement a restructuring support agreement with funds managed by Blue Torch, the company’s senior secured lenders, through which Blue Torch will acquire substantially all of the assets of the company via a stalking horse credit bid.

The DIP facility has a 90-day maturity and bears interest at SOFR plus 1,000 basis points.

The financing, as well as cash generated from ongoing operations, will fund the company’s business operations through the sale process.

Troika is a brand consultancy and marketing company based in New York. The company filed bankruptcy on Dec. 7 under Chapter 11 case number 23-11969.

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