Dynata Receives Court Approval for Prepackaged Financial Restructuring Plan

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Jul 02, 2024, 12:10 ET

Dynata to fully emerge from the Chapter 11 Process in the coming days, eliminating 40% of its total debt
Dynata to receive $50 million in exit financing - New Equity Owners have provided $81.5 million in total financing
Dynata boasts an unrivalled approach to delivering the highest quality, reliable, accurate consumer insights data worldwide
Dynata’s plan was court approved without the need for a formal confirmation hearing - which is a strong endorsement of the Company's emergence plan

SHELTON, Conn., July 2, 2024 /PRNewswire/ -- Dynata, LLC ("Dynata" or the "Company"), the most trusted source for reliable, accurate first-party data —announced today that the U.S. Bankruptcy Court for the District of Delaware has confirmed the Company's Financial Restructuring Plan. The confirmation hearing comes approximately five weeks after the Company's prepackaged Chapter 11 filing.

Mike Petrullo, Chief Executive Officer of Dynata said, "I am delighted that we have achieved this significant milestone, marking another stride towards advancing our business transformation. I deeply appreciate the steadfast support of our lenders which has enabled us to achieve this outcome on an expedited basis. I am thankful to the Dynata team who have committed themselves to building a best-in-class brand and to all of our loyal clients. Looking ahead, we are eager to commence the second half of the year with a strengthened balance sheet, and an unrelenting focus on delivering the highest-quality, reliable, accurate consumer insights data and services for our clients."

Dynata is renowned for having an unmatched commitment to data quality. In May, Dynata achieved further recognition by winning the overall 2024 I-COM Global Data Creativity Awards, securing first place in the Data Quality category.

Under the approved plan, Dynata reduced almost 40% of its total debt from approximately $1.3 billion to $780 million in exchange for the first and second lien holders to own 100% of the equity in the newly reorganized Company.

Willkie Farr & Gallagher LLP is serving as Dynata's legal advisor in connection with the restructuring. Alvarez & Marsal North America, LLC serves as its restructuring advisor and Houlihan Lokey, Inc. serves as its investment banker.

Gibson, Dunn & Crutcher LLP is serving as lead counsel and PJT Partners LP is serving as investment banker to an ad hoc group of controlling first lien lenders in connection with the restructuring.

Vinson & Elkins LLP is serving as lead counsel and Lazard is serving as investment banker to an ad hoc group of controlling second lien lenders in connection with the restructuring.

About Dynata
Dynata is the world's largest first-party data company for insights, activation and measurement. With a reach that encompasses 70 million consumers and business professionals globally, and an extensive library of individual profile attributes collected through surveys, Dynata is the cornerstone for precise, trustworthy quality data. The Company has built innovative data services and solutions around its robust first-party data offering to bring the voice of the customer to the entire marketing continuum — from uncovering insights to activating campaigns and measuring cross-channel marketing return on investment. Dynata serves more than 6,000 market research, media and advertising agencies, publishers, consulting and investment firms and corporate customers in North America, South America, Europe and Asia-Pacific. Learn more at www.dynata.com.

SOURCE Dynata