Calamp (CAMP) Announces Completion of Strategic Financing with Lynrock Lake
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CalAmp Announces Completion of Strategic Financing with Lynrock Lake
December 18, 2023 4:31 PM ESTIRVINE, Calif., Dec. 18, 2023 (GLOBE NEWSWIRE) -- CalAmp (Nasdaq: CAMP), a connected intelligence company helping people and organizations improve operational performance with telematics solutions, today announced the closing of a $45 million strategic financing with Lynrock Lake Master Fund LP (Lynrock) in the form of a term loan maturing in November 2027. Lynrock is an existing holder of a large majority of CalAmps 2.00% Convertible Senior Notes maturing in August 2025 (the Notes). In connection with the execution of the term loan agreement, CalAmp is amending the Notes to add a security interest.
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