Foley Advises Wasabi Technologies on $250M Credit Facility

Foley & Lardner LLP served as legal advisor to Wasabi Technologies in connection with the hot cloud storage company’s $250 million credit facility led by Bain Capital’s Private Credit Group with participation from BTG Pactual U.S. Private Credit Investments, Neuberger Specialty Finance, Energy Impact Partners, and Aksia.

The financing will support continued investment in Wasabi’s cloud storage platform and broader global expansion. It follows Wasabi’s acquisition of Lyve Cloud from Seagate Technology and $70 million equity funding round earlier this year, transactions on which Foley also advised Wasabi.

Recognized as one of the technology industry’s fastest growing companies, Wasabi is on a mission to store the world’s data by making cloud storage affordable, predictable, and secure. With Wasabi, visionary companies gain the freedom to use their data whenever they like without being hit with unpredictable fees or vendor lock-in.

Foley’s transactions team was led by partner Gabor Garai and of counsel Cynthia Harkness with support from partners Susan Pravda and Christopher Swift and associates Savannah Files, Sierra Stone, and Grace Fucci.