Urgently Announces Short-Term Extensions of Term Loans

VIENNA, Va., Dec. 31, 2024 (GLOBE NEWSWIRE) — Pressing.ly Inc. (Nasdaq: ULY) (“Urgently”), a US-based main supplier of digital roadside help and mobility help know-how and providers, as we speak introduced that it has reached an settlement with its lenders on a short-term extension of its time period mortgage agreements, because it continues to work towards extensions on long run. has, amongst different issues, reached an settlement with its first lien lenders to authorize the partial prepayment of its first lien time period loans in an combination principal quantity equal to $3 million, along with sure charges relevant thereto, and to grant a short-term extension of the time period of the mortgage. maturity date of such time period loans till February 1, 2025. Has reached an pressing settlement with its second lien lenders, amongst different issues, on a short-term extension of its second lien loans till March 3, 2025.

“We’re happy to announce the short-term extensions to the maturity dates of our debt services, as we proceed to interact in constructive discussions with our lenders to finalize the longer-term extensions within the coming weeks,” mentioned Tim Huffmyer, Chief Monetary Officer of Pressing. “The short-term extensions are in keeping with our goals to scale back our debt and enhance our capital construction. We’re additionally advancing discussions with lenders to refinance our current credit score services and/or enter into a brand new credit score facility.”

About Pressing

Urgently is targeted on serving to everybody transfer safely and with out disruption, by defending drivers, instantly helping their journey and utilizing know-how to proactively forestall potential issues. The corporate’s digitally native software program platform combines location-based providers, real-time knowledge, AI and machine-to-machine communications to energy roadside help options for main manufacturers in automotive, insurance coverage, telematics and different transportation-focused industries. Urgently meets the demand for related roadside help providers, enabling its companions to ship distinctive person experiences that drive excessive buyer satisfaction and loyalty, by delivering progressive, clear and distinctive related mobility help experiences on a worldwide scale. For extra info, go to http://www.geturgently.com.

For media and funding questions, please contact:

Press: media@geturgently.com

Investor Relations: investorrelations@geturgently.com

Ahead-Wanting Statements

This press launch incorporates or could include “forward-looking statements” throughout the which means of the Securities Act of 1933, as amended, and Part 21E of the Trade Act of 1934, as amended, which statements contain vital dangers and uncertainties. Ahead-looking statements usually relate to future occasions or Urgently’s future monetary or working efficiency. Such statements are primarily based on the present plans, estimates and expectations of Urgently’s administration in gentle of historic outcomes and traits, present circumstances and potential future developments, and are topic to varied dangers and uncertainties that might trigger precise outcomes to be materially differ from such statements. The inclusion of forward-looking statements shouldn’t be relied upon as a affirmation that such plans, estimates and expectations might be achieved. Ahead-looking phrases similar to ‘could’, ‘will’, ‘might’, ‘ought to’, ‘ought to’, ‘plan’, ‘potential’, ‘intend’, ‘anticipate’, ‘mission’, ‘predict’ “goal,” “consider,” “proceed,” “estimate” or “count on” or the detrimental of those phrases or different phrases, phrases and expressions of the same nature are sometimes meant to determine forward-looking statements, though not All forward-looking statements include these figuring out phrases. All statements, apart from historic info, together with, however not restricted to, statements relating to the Firm’s capability to safe extensions of its long-term debt services, refinance its debt services and/or enter into a brand new debt facility, and statements concerning the Firm’s intentions to scale back its debt and enhance its capital construction are primarily based on present assumptions of Urgently’s administration and are usually not guarantees or ensures, however embrace a big variety of elements that might trigger our precise efficiency or efficiency differs materially from future efficiency or efficiency. efficiency acknowledged or implied by the forward-looking statements. For elements that might trigger precise outcomes to vary materially from the forward-looking statements contained on this press launch, please check with the dangers and uncertainties detailed in our filings with the Securities and Trade Fee (“SEC”), together with in our annual report on Type 10-Ok for the yr ended December 31, 2023, which was filed with the SEC on March 29, 2024, our quarterly studies on Type 10-Q, together with our quarterly report on Type 10-Q for the quarter ended September 30, 2024, which was filed with the SEC on November 13, 2024, and different paperwork and studies that we could file with the SEC every so often. All forward-looking statements mirror Urgently’s beliefs and assumptions solely as of the date of this press launch. Urgently undertakes no obligation to replace any forward-looking statements to mirror future occasions or circumstances.

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