Appen (ASX:APX) has recently provided new details on the Quadrant earn out and their debt facility.

As of June 30, 2023, Quadrant’s earn out liability was documented in their balance sheet as US$19.4 million.

However, Appen now anticipates this liability to be no greater than US$5.0 million.

In addition, the company has resized its working capital facility from A$20 million down to A$10 million.

As of now, Appen has no plans to draw from the facility before its expiration on January 3, 2024.

Appen is a global leader in the development of high-quality, human-annotated datasets for machine learning and artificial intelligence.