Financing ·
Upwork Inc. entered into a $150.0 million secured revolving credit facility with Bank of America, N.A. as…
UPWKUpwork, Inc
Upwork Inc. entered into a $150.0 million secured revolving credit facility with Bank of America, N.A. as administrative agent and BofA Securities, Inc. and Wells Fargo Securities, LLC as joint lead arrangers. The facility matures on June 23, 2029, and includes an option to increase the capacity up to an additional $50.0 million. Proceeds may be used for working capital, debt repayment, or potential acquisitions. Upwork Inc. operates in the freelance and remote work marketplace industry by providing a digital platform for businesses and independent professionals to connect and work together.