Aviat Networks Inc.
10/22/2024 | Press release | Distributed by Public on 10/22/2024 14:33
Material Agreement Form 8 K
Item 1.01 Entry into a Material Definitive Agreement.
On October 18, 2024, Aviat Networks, Inc., a Delaware corporation (the "Company," "Aviat", "we," "us," or "our") entered into a Second Amendment to Credit Agreement (the "Credit Agreement Amendment"), with Aviat U.S., Inc. ("Opco" and together with the Company the "U.S. Borrowers"), Aviat Networks (S) Pte. Ltd. (the "Singapore Borrower" and together with the Company and Opco, the "Borrowers") and Wells Fargo Bank, National Association, as administrative agent, swingline lender and issuing lender and Wells Fargo Securities LLC, Citigroup Global Markets Inc., and Regions Capital Markets as joint lead arrangers and joint bookrunners (the "Lender").
The Credit Agreement Amendment amends and modifies that certain Secured Credit Facility Agreement dated May 9, 2023, by and among the Company, the Borrowers, and the Lender (as amended, the "Loan Facility" or the "Credit Agreement"). The Credit Agreement Amendment provided for changes and modifications to the Credit Agreement, which include, among other things, (i) changes to certain payment term mechanics, (ii) a commitment by certain members of the Lender to make term loans in the aggregate principal amount of $75,000,000 for the purpose of refinancing the Delayed Draw Term Loans (as that term is defined in the Credit Agreement) currently outstanding under the Credit Agreement, and (iii) an increase in the Revolving Credit Commitments (as that term is defined in the Credit Agreement) to $75,000,000 in the aggregate.
The foregoing description of the Credit Agreement Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Credit Agreement Amendment, which is filed with this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference.