Successful Closure of New $115 Million Loan Facility
GoHealth closed a superpriority senior secured term loan facility totaling $115 million, which includes $80 million in new money and $35 million in existing revolving loans. This provides significant financial runway and strategic flexibility.
Going Concern Status Removed
The new financial arrangements have alleviated the going concern status with auditors, enhancing GoHealth's financial stability.
Strategic Governance Changes
Three new directors were appointed to the Board, replacing three outgoing members, to support the next phase of company growth.
Focus on M&A Opportunities
With the new facility, GoHealth is positioned to pursue mergers and acquisitions in a fragmented market with a $250 million basket available for new transactions.
Launch of GoHealth Protect Product
The GoHealth Protect product suite, including final expense insurance, generated approximately $8 million in revenue for Q2, meeting company expectations.