Announcement
Afiniti Takes Next Step to Implement Restructuring Agreement and Strengthen Financial Foundation
Operations continue as usual with relentless focus on helping customers optimize CX journeys to drive better outcomes
Washington, DC, November 3, 2024 – Afiniti, Ltd. (the “Company”), a global customer experience and artificial intelligence provider, today initiated the next steps in its previously disclosed balance sheet restructuring process and proposed recapitalization. The Company has sought recognition in the United States of its restructuring process in Bermuda by way of a voluntary court filing in the United States (known as a “Chapter 15 proceeding”).
“We are continuing to make progress on our balance sheet restructuring, which will strengthen our financial foundation and position us well for future growth and success,” said Hassan Afzal, Afiniti’s Chief Executive Officer. “We are pleased to have reached this next milestone in the process and look forward to completing the recapitalization transaction before the end of the year. We remain focused on providing our customers with best-in-class personalized services they have come to expect and working with our partners as usual.”
He continued, “We are grateful to have the support of our lenders, which demonstrates their belief in our business and confidence in our growth prospects. I would also like to thank our talented employees for their hard work and unwavering commitment to Afiniti and our customers.”
Afiniti continues to operate as usual throughout the court-supervised restructuring process. The proposed recapitalization, which has the support of 100% of the Company’s lenders and its largest shareholder, will help strengthen Afiniti’s balance sheet, and provide additional resources to accelerate growth initiatives, support continued product innovation, and enhance customer value.
More information about Afiniti’s restructuring process can be found here: cases.ra.kroll.com/Afiniti.
About Afiniti
Afiniti is a leading provider of customer experience (CX) artificial intelligence (AI). Our AI optimization services, and infrastructure deliver measurably better business outcomes for some of the largest enterprises in the world. Our technology is used globally in the healthcare, telecommunications, hospitality, insurance, and banking industries, and across multiple customer experience channels. To learn more, visit www.afiniti.com.
Media Contact
AfinitiComms@fticonsulting.com
Stakeholder Contact
Afiniti@teneo.com
All Other Inquiries Contact
IR@afiniti.com
Afiniti Enters into Restructuring Agreement to Strengthen Balance Sheet and Accelerate Growth
Washington, DC, September 19, 2024 – Afiniti, Ltd. (the “Company”), a global customer experience and artificial intelligence provider, today announced it has entered into a restructuring agreement with its secured lenders, led by Vista Credit Partners, and its largest existing shareholder, The Resource Group International Limited.
The proposed recapitalization, which has the support of 100% of the Company’s lenders, will strengthen Afiniti’s balance sheet, significantly reduce its outstanding debt, and provide additional resources to accelerate growth initiatives, support continued product innovation, and enhance customer value.
“We are pleased to have reached an agreement that will provide our business with additional resources, expertise, and financial flexibility to support our ambitious growth plans,” said Hassan Afzal, Afiniti’s Chief Executive Officer. “We remain relentlessly focused on helping our customers optimize their CX journeys with scalable, AI-powered solutions capable of driving measurably better outcomes.”
About Afiniti
Afiniti is a leading provider of customer experience (CX) artificial intelligence (AI). Our AI optimization services, and infrastructure deliver measurably better business outcomes for some of the largest enterprises in the world. Our technology is used globally in the healthcare, telecommunications, hospitality, insurance, and banking industries, and across multiple customer experience channels. To learn more, visit www.afiniti.com.
Contact
IR@afiniti.com