CHELMSFORD, Mass., Dec. 21, 2021 /PRNewswire/ -- Harte
Hanks, Inc. (HHS) (the "Company"), a leading global
customer experience company, today announced that the company has
obtained a new $25 million secured
revolving line of credit with Texas Capital Bank. This new loan
agreement will enhance the Company's strategic position and
increase its financial flexibility.
The Company intends to use the credit facility for working
capital, to repay existing debt and to create growth opportunities
by investing in and enhancing our current client offerings.
The credit facility will be guaranteed by various
subsidiaries of the Company.
"We are pleased to work with Texas Capital Bank on this new
credit facility that affords Harte Hanks additional financial
flexibility as we continue to grow our business and enhance
long-term shareholder value," stated Brian
Linscott, our Chief Executive Officer. Linscott went on to
state, "This new facility is the next step in the Company's
strategy to ensure financial stability. The new facility eliminated
the need for a third-party guarantee which demonstrates the success
the Company has had in executing on its turnaround plan."
About Harte Hanks:
Harte Hanks (HHS) is a leading global customer experience
company whose mission is to partner with clients to provide them
with CX strategy, data-driven analytics and actionable insights
combined with seamless program execution to better understand,
attract, and engage their customers.
Using its unparalleled resources and award-winning talent in the
areas of Customer Care, Fulfillment and Logistics, and Marketing
Services, Harte Hanks has a proven track record of driving results
for some of the world's premier brands including Bank of America,
GlaxoSmithKline, Unilever, Pfizer, HBOMax, Volvo, Ford, FedEx,
Midea, Sony and IBM among others. Headquartered in Austin, Texas, Harte Hanks has over 2,500
employees in offices across the Americas, Europe and Asia
Pacific. For more information, visit hartehanks.com.
As used herein, "Harte Hanks" or "the Company" refers to Harte
Hanks, Inc. and/or its applicable operating subsidiaries, as the
context may require. Harte Hanks' logo and name are trademarks of
Harte Hanks.
Note Regarding Forward-looking Statements
Our press release contains "forward-looking statements" within
the meaning of U.S. federal securities laws. All such statements
are qualified by this cautionary note, provided pursuant to the
safe harbor provisions of Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934. Statements
other than historical facts are forward-looking and may be
identified by words such as "may," "will," "expects," "believes,"
"anticipates," "plans," "estimates," "seeks," "could," "intends,"
or words of similar meaning. These forward-looking statements are
based on current information, expectations and estimates and
involve risks, uncertainties, assumptions and other factors that
are difficult to predict and that could cause actual results to
vary materially from what is expressed in or indicated by the
forward-looking statements. In that event, our business, financial
condition, results of operations or liquidity could be materially
adversely affected and investors in our securities could lose part
or all of their investments. These risks, uncertainties,
assumptions and other factors include: (a) local, national and
international economic and business conditions, including (i) the
outbreak of diseases, such as the COVID-19 coronavirus and new
variants thereof, which has curtailed travel to and from certain
countries and geographic regions, created supply chain disruption
and shortages, disrupted business operations and reduced consumer
spending, (ii) market conditions that may adversely impact
marketing expenditures and (iii) the impact of economic
environments and competitive pressures on the financial condition,
marketing expenditures and activities of our clients and prospects;
(b) the demand for our products and services by clients and
prospective clients, including (i) the willingness of existing
clients to maintain or increase their spending on products and
services that are or remain profitable for us, and (ii) our ability
to predict changes in client needs and preferences; (c) economic
and other business factors that impact the industry verticals we
serve, including competition and consolidation of current and
prospective clients, vendors and partners in these verticals; (d)
our ability to manage and timely adjust our facilities, capacity,
workforce and cost structure to effectively serve our clients; (e)
our ability to improve our processes and to provide new products
and services in a timely and cost-effective manner though
development, license, partnership or acquisition; (f) our ability
to protect our facilities against security breaches and other
interruptions and to protect sensitive personal information of our
clients and their customers; (g) our ability to respond to
increasing concern, regulation and legal action over consumer
privacy issues, including changing requirements for collection,
processing and use of information; (h) the impact of privacy and
other regulations, including restrictions on unsolicited marketing
communications and other consumer protection laws; (i) fluctuations
in fuel prices, paper prices, postal rates and postal delivery
schedules; (j) the number of shares, if any, that we may repurchase
in connection with our repurchase program; (k) unanticipated
developments regarding litigation or other contingent liabilities;
(l) our ability to complete anticipated divestitures and
reorganizations, including cost-saving initiatives; (m) our ability
to realize the expected tax refunds; (n) the realization of any
benefits that may be derived from listing the Company's common
stock on Nasdaq and (o) other factors discussed from time to time
in our filings with the Securities and Exchange Commission,
including under "Item 1A. Risk Factors" in our Annual Report on
Form 10-K for the year ended December 31, 2020 which was filed on
March 24, 2021. The forward-looking statements in this press
release are made only as of the date hereof, and we undertake no
obligation to update publicly any forward-looking statement, even
if new information becomes available or other events occur in the
future.
Investor Relations Contact:
Rob Fink
FNK IR
HRTH@fnkir.com
646-809-4048
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SOURCE Harte Hanks, Inc.