Troika Media Group Signs a Firm Commitment for a $75 Million Senior Secured Credit Facility with a Multibillion-Dollar Institutional Investor to Fund the Acquisition of Converge Direct LLC

Financial Highlights:

LOS ANGELES, CA, March 10, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Troika Media Group, Inc. (Nasdaq:TRKA) ("TMG" or "Company"), a brand consultancy and marketing innovations company that provides integrated branding and marketing solutions for global brands today announced that it has signed a $75 million firm commitment for a senior secured credit facility (the “Facility”) with a direct lender, having extensive experience providing bespoke credit solutions to fund the Company’s previously-announced definitive purchase agreement (the “Purchase Agreement”) to acquire Converge Direct LLC and its affiliates (collectively, “Converge”), a leading digital and offline performance media and marketing company. The Company will fund the acquisition using net proceeds from the credit facility, together with cash on hand at closing to fund the cash consideration of the acquisition and will issue $25 million in the Company’s restricted common stock valued at $2.00 per share. The restricted stock being paid to the Converge shareholders is restricted and subject to a nine-month lock-up agreement (“Lock-Up”).