After going public in 2021, Irving-based IT services company AgileThought Inc. announced a financial restructuring deal with Blue Torch Finance LLC that is set to take the company off the market, the Dallas Morning News reported. The company yesterday announced a go-private transaction, underpinned by an asset purchase agreement with an affiliate of Blue Torch Finance. In order to run this deal, AgileThought filed for bankruptcy under chapter 11, which allows companies to stay in business while restructuring their financial obligations. A Blue Torch affiliate has agreed to serve as the stalking-horse buyer of AgileThought’s assets. Blue Torch has agreed to provide approximately $22 million in new-money financing, according to a press statement. The restructuring alongside the capital funding aims to reduce AgileThought’s debt load and ground the firm’s financial foundation for the future. When the company went public in 2021, it had an initial market value of $491 million. AgileThought linked up with a special purpose acquisition company to go public. LIV Capital Acquisition Corp., headquartered in Mexico, backed the SPAC after it evaluated 80 companies before deciding on AgileThought. In its second-quarter financial report, the company reported $38.3 million in revenue, down 17.0% year over year from $46.2 million in Q2 2022.
