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Baylin Technologies Announces Amendments to its Credit Facility and its Share Purchase Agreement for the Acquisition of Kaelus AB
Baylin Technologies Announces Amendments to its Credit Facility and its Share Purchase Agreement ...
About this update from Baylin Technologies, Inc.
[{"type":"text","content":"\n\n\nBaylin Technologies Announces Amendments to its Credit Facility and its Share Purchase Agreement for the Acquisition of Kaelus AB\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\nCanada NewsWire\n\n\nTORONTO, Jan. 28, 2026 /CNW/ - Baylin Technologies Inc. (TSX: BYL) (OTCQB: BYLTF) (\"Baylin\" or the \"Company) is pleased to announce the following new developments.\n\n\n\n\n\n\n\nCredit Facility\nThe Company and its principal lender, Royal Bank of Canada, have agreed to extend the maturity date of the Company's revolving credit facility (the \"Credit Facility\") from January 31 to April 30, 2026. As part of the amendment, the liquidity covenant, which required the Company to maintain minimum liquidity of at least $3 million, has been replaced by a Senior Debt to EBITDA Ratio, not to exceed 2.75 to 1.00, and a Fixed Charge Coverage Raio, to exceed 1.15 to 1.00, in each case, determined on a monthly basis.\nAcquisition of Kaelus AB\nThe Share Purchase Agreement (the \"Agreement\") governing the terms of the proposed acquisition of Kaelus AB (the \"Acquisition\") has been amended to extend the time to allow the Company to satisfy the \"Financing Condition\" from January 28 to February 28, 2026. The Financing Condition is a condition of the Agreement that entitles the Company and the sellers to terminate the Agreement if the Company is unable to raise an amount in cash sufficient to pay the cash portion of the purchase price, to repay in full all outstanding indebtedness to its principal lender and to pay all third-party expenses associated with the Acquisition and the financing, or approximately $42 million in total.\nThe Company is in continuing discussions and has begun the documentary process with the Canadian private credit lender with which the Company has an existing non-binding term sheet, to provide a $30.9 million non-revolving senior secured loan (the \"Loan\"), with an expected term of 36 months. The proceeds from the Loan would be used to repay in full the Credit Facility and to fund part of the cash portion of the purchase price for the Acquisition. The Loan ...