August 26, 2016 10:14 PM ET

IT Services

Company Overview of Higher One Holdings, Inc.

Company Overview

Higher One Holdings, Inc. provides technology-based payment processing and refund disbursement services to higher education institutions and their students in the United States. It offers CASHNet payment solutions suite of products, such as ePayment to accept online payments; eBill to automate payer billing and processing functions; Tuition Payment Plans to personalize students’ payment plans; eMarket to accept payments of event and conference registration fees and take alumni donations, as well as to sell event tickets, clothing, and other merchandise; and Cashiering for cashiering functions, back office payments, and campus-wide departmental deposits. The company also provides Refund Manag...

115 Munson Street

New Haven, CT 06511

United States

Founded in 2000

500 Employees

Phone:

203-776-7776

Key Executives for Higher One Holdings, Inc.

Chief Executive Officer and President
Age: 58
Chief Financial Officer and Executive Vice President
Age: 54
Vice President, General Counsel and Secretary
Age: 38
Chief Compliance Officer and Senior Vice President
Chief Human Resource Officer and Vice President
Compensation as of Fiscal Year 2016.

Higher One Holdings, Inc. Key Developments

Higher One Holdings, Inc. Files Form 15

Higher One Holdings, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock, par value $0.001 per share under the Securities Exchange Act of 1934, as amended.

Higher One Holdings, Inc. Enters into Credit Agreement for $85 Million Senior Secured Term Loan Facility and $15 Million Revolving Credit Facility

On August 4, 2016, Higher One Holdings, Inc. became a party to the credit agreement, dated as of August 4, 2016, by and among Winchester Acquisition Corp. and Higher One the lenders party thereto and Bank of America, N.A., as administrative agent, swingline lender and L/C issuer, for an $85 million senior secured term loan facility and a $15 million revolving credit facility. Borrowings under the term loan facility and the revolving facility will bear interest at a rate per annum equal to an applicable margin plus, at the borrower’s option, either at a base rate determined by reference to the of the prime rate published by Bank of America, N.A. from time to time, the federal funds effective rate plus 0.50% and a LIBOR rate determined by reference to the costs of funds for U S dollar deposits for an interest period of one month, plus 1.00% or a LIBOR rate determined by reference to the costs of funds for U S dollar deposits for the interest period relevant to such borrowing. The applicable margin for borrowings under the term loan facility is initially 3.75% for LIBOR borrowings and 2.75% for base rate borrowings. The applicable margin for borrowings under the revolving facility is initially 3.75% for LIBOR borrowings and 2.75% for base rate borrowings. The applicable margin for borrowings under both the term loan facility and the revolving facility will step down based on achievement of a specified total net leverage ratio of Higher One and its subsidiaries at the end of any applicable fiscal quarter, commencing with the fiscal quarter ending December 31, 2016. In addition to paying interest on outstanding principal under the senior credit f, the borrower will pay customary agency fees and a commitment fee in respect of the unutilized commitments under the Revolving Facility, which commitment fee will initially be 0.50% per annum. The commitment fee will step down to 0.425% and 0.375% per annum based on achievement of a specified total net leverage ratio of Higher One and its subsidiaries at the end of any applicable fiscal quarter, commencing with the fiscal quarter ending December 31, 2016.

Higher One Holdings, Inc. Announces Board Changes, Effective on August 4, 2016

Effective on August 4, 2016, Marc Sheinbaum, Paul Biddelman, Thomas Anderson, David Cromwell, Lowell W. Robinson, Michael E. Collins, Robert Hartheimer, Samara Braunstein, Sheldon Goldfarb and Mark Volchek resigned as members of the Higher One Holdings, Inc. Board of Directors and William Ballhaus, Stuart Kupinsky and Lisa Mayr became the directors of the Higher One Holdings, Inc. At the time Messrs. Ballhaus and Kupinsky and Ms. Mayr assumed the roles of directors, it had not yet been determined on which committees, if any, of the Board of Directors of the company Messrs. Ballhaus and Kupinsky and Ms. Mayr would serve.

Similar Private Companies By Industry

Company Name Region
@aquila, Incorporated United States
1 Source Consulting, Inc. United States
1102 Grand LLC United States
1SEO.com Inc. United States
1st-Mile Institute United States

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
June 30, 2016
--
 

The information and data displayed in this profile are created and managed by Capital IQ, a Standard & Poor's company. Bloomberg.com does not create or control the content. For inquiries, please contact Capital IQ directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
The Advertising Council, Inc. United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Higher One Holdings, Inc., please visit www.higherone.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.