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Quarterhill Announces USD $60 Million Credit Facility and USD $100 Million Accordion to Strengthen Balance Sheet and Support Growth Initiatives
Quarterhill Announces USD $60 Million Credit Facility and USD $100 Million Accordion to Strengthe...
About this update from Quarterhill Inc
[{"type":"text","content":"\n\n\nQuarterhill Announces USD $60 Million Credit Facility and USD $100 Million Accordion to Strengthen Balance Sheet and Support Growth Initiatives\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\n\nCanada NewsWire\n\n\nFacility positions Quarterhill for accelerated growth based on a strong capital foundationEnhanced financial flexibility unlocks opportunities to advance long-term strategyUSD-denominated structure reduces FX exposure and sharpens balance sheet efficiencyTORONTO, May 12, 2026 /CNW/ - Quarterhill Inc. (\"Quarterhill\" or the \"Company\") (TSX: QTRH) (OTCQX: QTRHF), a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (\"ITS\") industry, announces that the Company has entered into a new $60 million senior secured credit facility with U.S. Private Credit Investments (\"PCI\"), a division of BTG Pactual Global Alternatives. All financial information in this press release is in United States (\"US\") dollars, unless otherwise indicated.\nThe financing consists of a $30 million initial term loan facility (the \"Initial Term Loan Facility\"), a $25 million delayed draw term loan facility (the \"DDTL Facility\"), and a $5 million revolving credit facility (the \"Revolving Credit Facility\", and together with the Initial Term Loan Facility and the DDTL Facility, the \"Facilities\"). Proceeds from the Facilities will be used to repay obligations under the Company's existing credit agreement, redeem the Company's convertible debentures, pay transaction fees and expenses, and provide working capital. The Facilities have a maturity date of May 12, 2031. The Facilities are secured by certain assets of Quarterhill and Quarterhill is subject to customary financial and non-financial covenants under the agreement.To further support its long-term strategy, the Company has established an incremental $100 million uncommitted accordion, subject to lender agreement and satisfaction of usual and customary conditions. This is designed to fuel inorganic growth initiatives and allow the Company to act quickly on accretive M&A opportuni...