MediaMath gets approval to use cash collateral through Oct. 30

By Sarah Lizee

Olympia, Wash., Oct. 6 – MediaMath Holdings, Inc.’s stipulation with lender Goldman Sachs Specialty Lending Group, LP regarding its cash collateral use was approved Friday by the U.S. Bankruptcy Court for the District of Delaware, according to an order.

As background, the company has about $94.96 million of debt under a first-lien credit agreement with Goldman Sachs as administrative agent and collateral agent.

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

The stipulation allows the company to access the cash collateral through Oct. 30 in line with a budget.

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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