Intersections
$20 million Term Loan
Overview
Intersections Inc. (Nasdaq: INTX), founded in 1986 and headquartered in Chantilly, VA, is a leading provider of consumer identity protection and monitoring services. In addition, they offer an innovative new product called Voyce, a groundbreaking pet wellness monitoring system for pet owners and veterinarians. To learn more, visit www.intersections.com and/or www.voyce.com
Challenge
The Company was seeking capital to expand their new Voyce product as well as continue driving growth in their core Identity Guard service.
Solution
Crystal underwrote a $20 million term loan. Proceeds will provide the company with the financial means to invest in sales and operations for Voyce while creating a mechanism to establish financial independence between their two primary businesses.
“We are pleased to announce these two financing transactions to further fund the sales, marketing and operations of our Voyce Pro Wellness Monitoring Program. Voyce Pro™ enables veterinarians to better monitor an animal’s health by providing biometric data and insight that we believe has never been available before. These funds will also give us the financial security to continue executing our corporate transformation program and invest in our growth platforms with a structure that creates more financial independence between our two primary businesses.”
—-Michael Stanfield, Chairman and Chief Executive Officer