Canaccord Genuity Acts as Financial Advisor to The Market Herald Ltd. on its A$48Million Recapitalization

Canaccord Genuity is pleased to announce that on June 1, 2023, its client, The Market Herald Ltd. (ASX:TMH) (“The Market Herald” or the “Company”), announced that it has entered into a A$48 million secured facility agreement (the “Facility”), comprised of a A$46 million term loan facility, and a A$2 million bank guarantee facility.  The Facility Agreement also includes a mechanism for the establishment of additional uncommitted facilities up to an aggregate of A$20 million for the purposes of financing (in whole or in part) permitted acquisitions, growth capital expenditure and associated transaction costs.

The Market Herald will use the Facility for general corporate and working capital purposes as well as to repay and refinance the vendor loan note extended to the Company by Adevinta Oak Holdings B.V for the purchase of Carsguide, Gumtree and Autotrader, closed August 31, 2022.  

The Market Herald, together with its subsidiaries, operates a digital business news, investor relations, and classifieds business in Australia and internationally. The Company operates through four segments: the Market Herald, Stockhouse, Subscribacar, and Carsguide, Gumtree and Autotrader.

Canaccord Genuity acted as financial advisor to The Market Herald with respect to the Facility. The Canaccord Genuity team included Myles Hiscock, Brian Bacal, Brian Hurley, Jeffrey Solomon, and Max McLernon from Investment Banking.