Digital Media Solutions Gets Nod to Sell at $95M in Credit Bid

Bankrupt advertising company Digital Media Solutions won court approval on Monday to sell substantially all of its assets to DIP lenders via a $95 million credit bid.

• A credit bid means lenders will use debt they’re owed toward the purchase of the assets
  • The deal doesn’t include assets related to marketing firm ClickDealer
• Court also approved a DIP loan on a final basis, which will be no less than $122m, consisting up to $30m new money and roll-up of several pre-petition term loans
• READ: Digital Media Solutions Files Chapter 11, Agrees Sale to Lenders

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