AgileThought to pay down bank debt via combination with LIV Capital

Chicago, May 10 – AgileThought, Inc. announced that in connection with its business combination with LIVK, a special purpose acquisition company, the company will repay bank debt and lenders will convert a second-lien facility into equity of the combined company, according to a press release.

The proforma enterprise value is approximately $482 million.

All transaction proceeds, after repaying expenses related to the transaction, will be used to repay AgileThought’s first-lien credit facility of which there is $97 million outstanding, until any additional repayments would result in AgileThought’s cash plus any LIVK working capital funds, being less than $15 million, with any proceeds remaining after those uses being available for general corporate purposes.

Additionally, lenders under AgileThought’s second-lien facility have agreed to convert approximately $38 million of principal and interest outstanding into class A common stock of the combined company immediately prior to the closing of the transaction.

EarlyBirdCapital, Inc. acted as financial and capital markets adviser to LIVK. Davis Polk & Wardwell LLP is serving as legal counsel to LIVK.

William Blair is serving as capital markets adviser to AgileThought. Cooley LLP is serving as legal counsel to AgileThought.

LIV Capital Acquisition Corp. is a blank check company.

AgileThought, with headquarters in Dallas, is a pure play provider of agile-first software.

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