After going public in 2021, Irving-based IT services company AgileThought Inc. announced a financial restructuring deal with Blue Torch Finance LLC that is...
Blue Torch has agreed to provide approximately $22 million in new-money financing, according to a press statement. The restructuring alongside the capital funding aims to reduce AgileThought’s debt load and ground the firm’s financial foundation for the future.
AgileThought CEO Manuel Senderos said the reorganization and capital structure will allow the company to operate more efficiently.‘Post-reorganization, we will emerge with significantly reduced debt and a private ownership structure, fortifying an even stronger and healthier AgileThought,” Senderos said.
When the company went public in 2021, it had an initial market value of $491 million. AgileThought linked up with a special purpose acquisition company to go public. LIV Capital Acquisition Corp., headquartered in Mexico, backed the SPAC after it evaluated 80 companies before deciding on AgileThought.
In its second-quarter financial report, the company reported $38.3 million in revenue, down 17.0% year over year from $46.2 million in Q2 2022.5000 list of fastest-growing private companies. By joining with LIV, AgileThought avoided a traditional IPO, which is slower and has less certainty.“The traditional IPO route has some risks associated with it in terms of dependency on markets, which can be volatile, especially with the pandemic,” Senderos said in 2021.
The firm has more than 3,000 employees in seven countries, according to its site, with offices across the U.S. and Latin America.. Arcelia reports on equity and economic topics across North Texas' diverse communities. Before joining The Dallas Morning News in 2022, she covered housing, homelessness and real estate at The Tennessean in Nashville. She is a graduate of Gonzaga University and Columbia University Graduate School of Journalism.
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