CalAmp Reaches Comprehensive Agreement to Significantly Reduce Debt, Go Private, and Strengthen Financial Flexibility to Support Innovation Through a Consensual Financial Restructuring
CalAmp(CAMP) Newsfilter·2024-06-03 21:25
In a strategic move that strengthens its financial position, CalAmp intends to exchange the approximately $229 million of Convertible Senior Secured Notes held by Lynrock into equity interests in the reorganized company. During the financial restructuring, CalAmp's U.S. and international operations will continue without disruption, and partners will be paid in the ordinary course of business. To most efficiently complete the go-private transaction, CalAmp has voluntarily initiated proceedings under Chapter ...