DOMO plans $400M asset sale to Progress Software
DOMO says it is relying on the closing of a $400 million asset sale to Progress Software to address liquidity risks after covenant breaches. It plans to repay all debt post-sale and focus on monetizing NOLs.
Revenue and net loss improved year-over-year, but the company faces significant liquidity risks due to covenant breaches and is relying on the closing of a $400 million asset sale to Progress Software.
Post-sale, the company will repay all debt and focus on monetizing NOLs and strategic opportuniti…