At Digital Media Solutions (“DMS”), we strive to develop innovative solutions that enable consumers to shop and save, while helping our advertisers achieve above average return on ad spend. Our ability to deliver these world-class solutions is made possible by our long-standing relationships with our clients.
On September 11, 2024, we initiated a court-supervised sale process to transition ownership of our business to our existing lenders, including a consortium of leading financial institutions. In addition, the Company has secured an approximately $122 million financing commitment from certain of the lenders.
To facilitate this process, we have voluntarily filed for Chapter 11 of the U.S. Bankruptcy Code in the Southern District of Texas. Our ClickDealer subsidiaries are not part of the Chapter 11 proceedings, but they are included in the proposed sale to the lenders and are continuing to operate in the ordinary course.
This court-supervised sale process is designed to maximize value, strengthen the business’s financial foundation and position DMS for continued growth. We have appointed Zach Rose as Chief Restructuring Officer, who brings significant experience navigating court-supervised sale processes while continuing growth initiatives, marketing strategies and managing liquidity. We intend to complete this process in the fourth quarter of 2024.
We expect this to be an orderly and efficient process and, as we move through it, we remain committed to connecting advertisers with high-intent consumers. We are operating as normal and continuing to provide innovative solutions, vertical expertise and outstanding support to our clients and vendors.
Serving our clients as we always have
Paying contracted employees and providing benefits in the normal course
Working with our vendors, suppliers and business partners as usual
If you are a ClickDealer vendor, partner, client or customer, please note:
DMS’s ClickDealer subsidiaries are not part of the Chapter 11 proceedings, but they are included in the proposed sale to the lenders and are continuing to operate in the ordinary course.
Chapter 11 is a U.S. legal process that provides us the tools to conduct an efficient and orderly sale process while we continue serving our clients and working with our vendors in the normal course. It is not a liquidation and is different than restructuring or administration proceedings in other parts of the world.
We appreciate your ongoing partnership and look forward to continuing to work with you.
Court filings and other information related to the sale process are available on a separate website administrated by our claims agent, Omni Agent Solutions, at https://omniagentsolutions.com/DMS.
Information is also available by calling Omni representatives toll-free at (866) 680-8083, or (818) 574-6886 for calls originating outside of the U.S. or Canada; or by emailing DMSInquiries@OmniAgnt.com.
Aaron Palash / Aura Reinhard / Maeve Barbour / Jenna Shinderman
Joele Frank Wilkinson Brimmer Katcher
(212) 355-4449