IAS Announces Completion of Expanded Credit Facility

Rhea-AI Summary

Integral Ad Science (IAS) has secured an expanded credit facility through a second amendment to its credit agreement with PNC Capital Markets LLC, HSBC Bank USA, and TD Bank. The amendment extends the revolving credit facility maturity to June 17, 2030, and introduces a new $30 million sub-facility for swingline loans, while maintaining its existing $100 million currency sublimit and $30 million sub-facility for standby letters of credit. The agreement's accordion feature now allows IAS to potentially increase borrowings from $300 million to $550 million, subject to lender approval. As of March 31, 2025, IAS maintained a strong liquidity position with $59 million in cash and cash equivalents.

Positive

• Extended credit facility maturity to June 2030, providing long-term financial stability
• Increased potential borrowing capacity from $300M to $550M through accordion feature
• Addition of $30M swingline loans sub-facility enhancing financial flexibility
• Strong liquidity position with $59M in cash and cash equivalents

Negative

• Additional debt capacity could increase financial leverage if utilized
• Expanded borrowing subject to lender approval

NEW YORK, June 18, 2025 /PRNewswire/ -- Integral Ad Science (Nasdaq: IAS), a leading global media measurement and optimization platform, today announced that it has entered into a second amendment to its credit agreement (the "Credit Agreement Amendment") with a syndicate of banks led by PNC Capital Markets LLC, as the joint lead arranger and administrative agent, and HSBC Bank USA, National Association and TD Bank, N.A. as joint lead arrangers and syndication agents. The Credit Agreement Amendment extends the maturity of the revolving credit facility to June 17, 2030, and includes a new $30 million sub-facility for swingline loans in addition to its existing $100 million currency sublimit and $30 million sub-facility for standby letters of credit. Additionally, the Credit Agreement Amendment provides for an increased accordion feature which, subject to lender approval, now permits IAS to increase borrowings under the credit agreement from $300 million to at least $550 million. The Credit Agreement Amendment complements IAS's healthy liquidity profile, with $59 million in cash and cash equivalents as of March 31, 2025.

Alpana Wegner, Chief Financial Officer of IAS, commented, "This amendment to our credit agreement provides us with the opportunity to increase our borrowing capacity, enables greater financial flexibility, and supports our growth."

About Integral Ad Science
Integral Ad Science (IAS) is a leading global media measurement and optimization platform that delivers the industry's most actionable data to drive superior results for the world's largest advertisers, publishers, and media platforms. IAS's software provides comprehensive and enriched data that ensures ads are seen by real people in safe and suitable environments, while improving return on ad spend for advertisers and yield for publishers. Our mission is to be the global benchmark for trust and transparency in digital media quality. For more information, visit integralads.com.

Investor Contact:
Jonathan Schaffer
ir@integralads.com

Media Contact:
press@integralads.com

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SOURCE Integral Ad Science, Inc.

FAQ

What is the new maturity date for IAS's revolving credit facility?

The revolving credit facility maturity has been extended to June 17, 2030

How much can IAS potentially increase its borrowing capacity under the new credit agreement?

IAS can potentially increase borrowings from $300 million to $550 million, subject to lender approval

What is IAS's current cash position as of March 31, 2025?

IAS reported $59 million in cash and cash equivalents as of March 31, 2025

Who are the main banks involved in IAS's credit facility amendment?

The syndicate is led by PNC Capital Markets LLC as lead arranger and administrative agent, with HSBC Bank USA and TD Bank as joint lead arrangers and syndication agents

What new sub-facility was added in the IAS credit agreement amendment?

A new $30 million sub-facility for swingline loans was added to the credit agreement