MediaMath Holdings gets emergency access to cash collateral

By Sarah Lizee

Olympia, Wash., July 10 – MediaMath Holdings, Inc. secured approval to use cash collateral on an emergency basis pending a final hearing scheduled for Aug. 3, according to an order filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

The company has about $94.96 million of debt under a first-lien credit agreement with Goldman Sachs Specialty Lending Group, LP as administrative agent and collateral agent.

The company and its prepetition secured lenders have reached an agreement on the consensual use of cash collateral, MediaMath said.

The debtor said it believes the cash collateral will be sufficient to fund its operations and Chapter 11 costs without the need for debtor-in-possession financing.

The final hearing is scheduled for Aug. 3.

The New York-based company develops digital advertising media and data management technology solutions for advertisers. The company filed bankruptcy on June 30 under Chapter 11 case number 23-10882.

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