Asure Software Bolsters Balance Sheet; Announces $175 Million Credit Facility and Increases Shelf Registration
April 2, 2018
AUSTIN, TX – April 2, 2018 – Asure Software, Inc. (NASDAQ: ASUR), a leading provider of Human Capital Management (HCM) and workplace management software, today announced that it amended its credit facility on March 29, 2018, increasing the term loans and amount of available financing to $175 million. Term loans under the facility are $105 million, which includes approximately $36.75 million of new debt. The facility also includes a $5 million revolver. An additional $65 million will be available to support our continued growth and future acquisitions.
“The new credit facility increases our financial footing as we continue to make strategic acquisitions. In addition, today, we are increasing our shelf registration to $175 million from approximately $60 million available under existing shelf registrations,” stated Chief Executive Officer, Pat Goepel. This shelf registration statement is not yet effective and securities may not be sold, nor may offers to buy be accepted prior to the time it becomes effective. Goepel continued, “While we have no current plans to issue securities, we felt it was prudent to allow for maximum flexibility as we progress on our growth initiatives.”
About Asure Software
Asure Software, Inc. (NASDAQ: ASUR), headquartered in Austin, Texas, offers intuitive and innovative solutions designed to help organizations of all sizes and complexities build companies of the future. Our cloud platforms enable more than 100,000 clients direct and indirect, worldwide to better manage their people and space in a mobile, digital, multi-generational, and global workplace. Asure Software’s offerings include a fully-integrated HCM platform, flexible benefits and compliance administration, HR consulting, and time and labor management as well as a full suite of workspace management solutions for conference room scheduling, desk sharing programs, and real estate optimization. For more information, please visit www.asuresoftware.com.
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Stacy Zellner, Director of Marketing
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Market Street Partners