Company: CDLX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001666071-25-000159
Chunk: 122

Company: Cardlytics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 122
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 to prime rate plus 0.125%. The amendment also established a reserve and included an extension of the maturity date of the loan to July 31, 2026.In September 2024, we entered into an amended and restated Loan and Security Agreement, which amended and restated the original Loan and Security Agreement to consolidate the original agreement and all subsequent amendments thereto into a single document. In January 2025, we amended our 2018 Loan Facility to decrease our required minimum level of Adjusted EBITDA. In April 2025, we amended our 2018 Loan Facility to extend the maturity date of the loan to April 15, 2028.As of September 30, 2025, we had net borrowings of $46.1 million under the 2018 Line of Credit, which includes a draw down of $50.0 million on August 5, 2025 and a repayment of $3.9 million on September 26, 2025. Subsequent to September 30, 2025, we repaid $6.0 million on October 16, 2025 and drew down $6.0 million on November 4, 2025 under the 2018 Line of Credit.During the three and nine months ended September 30, 2025, we incurred $0.6 million and $0.6 million of interest expense associated with the 2018 Loan Facility, respectively. As of September 30, 2025, we had $12.4 million of unused available borrowings under our 2018 Line of Credit. We believe we are in compliance with all financial covenants as of September 30, 2025.

7.     STOCK-BASED COMPENSATION

On May 20, 2025, at the 2025 Annual Meeting our stockholders approved the 2025 Plan. The aggregate number of shares of our common stock that may be issued pursuant to stock awards under the 2025 Plan will not exceed 15,722,908 shares, which is the sum of (i) 10,000,000 new shares, (ii) the number of shares reserved, and remaining available for issuance, under our 2018 Equity Incentive Plan  ("2018 Plan"), and (iii) the number of shares subject to stock options or other stock awards granted under our 2008 Stock Plan ("2008 Plan") or 2018 Plan that