PE-backed Mobilicity gets creditor protection, up to $30 mln in DIP financing
Toronto-based wireless service provider Mobilicity, a.k.a. Data & Audio-Visual Enterprises Wireless Inc, has received protection under the Companies’ Creditors Arrangement Act. The company said this protection will allow it time and financing to complete a going-concern transaction currently under federal review. Court authorities approved debtor-in-possession (DIP) financing of up to $30 million from some of the company's noteholders. Mobilicity has been backed by U.S. private equity firm Quadrangle Capital Partners since 2008.
1 October 2013•2 mins read
