Xplore Technologies Announces New Credit Facility
April 19 2017 - 10:00AM
Xplore Technologies (Nasdaq:XPLR), the provider of rugged tablet
PCs, today announced that it has entered into a new $15 million
three-year secured line of credit with Bank of America. The company
will also move its commercial banking relationships to Bank of
America.
“After a thorough review and careful selection
process, we are pleased to enter into this new facility with Bank
of America,” said Tom Wilkinson, Chief Financial Officer of Xplore
Technologies. “This new line of credit and banking relationship not
only strengthens our balance sheet resources, but also expands our
international and multi-currency banking capabilities in support of
Xplore’s global rugged tablet business.”
The new line of credit is currently undrawn. The
facility includes features which assess certain inventory holdings
as well as accounts receivable, providing greater flexibility. The
facility replaces Xplore’s existing $15 million lending facility,
also undrawn at present, provided by Square 1 Bank.
About Xplore TechnologiesXplore is
The Rugged Tablet Authority™, exclusively manufacturing powerful,
long-lasting, and customer-defined rugged tablet PCs since 1996.
Today, Xplore offers the broadest portfolio of genuinely rugged
tablets, as well as the most complete lineup of rugged tablet
accessories. Its mobility solutions are purpose-built for the
energy, utilities, telecommunications, military and defense,
manufacturing, distribution, public safety, healthcare, government,
and field service sectors. The company’s award-winning
military-grade computers are also among the most powerful and
longest lasting in their class, built to withstand nearly any
hazardous condition or environmental extreme for years without
fail. Visit www.xploretech.com for more information
on how Xplore and its global channel partners engineer complete
mobility solutions to meet specialized workflow demands. Follow us
on Twitter, Facebook, LinkedIn,
and YouTube.
Forward Looking StatementsThis
news release contains forward-looking statements that involve risks
and uncertainties, which may cause actual results to differ
materially from the statements made. When used in this document,
the words “may”, “would”, “could”, “will”, “intend”, “plan”,
“anticipate”, “believe”, “estimate”, “expect” and similar
expressions are intended to identify forward-looking statements.
Such statements reflect Xplore’s current views with respect to
future events and are subject to such risks and uncertainties. Many
factors could cause actual results to differ materially from the
statements made including those factors detailed from time to time
in filings made by Xplore with securities regulatory authorities.
Should one or more of these risks or uncertainties materialize, or
should assumptions underlying the forward looking statements prove
incorrect, actual results may vary materially from those described
herein as intended, planned, anticipated or expected. Xplore does
not intend and does not assume any obligation to update these
forward-looking statements.
Xplore Contact Information:
Matt Kreps, Darrow Associates Investor Relations
Phone: (512) 696-6401
Email: xplr@darrowir.com
Xplore Technologies Corp (delisted) (NASDAQ:XPLR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Xplore Technologies Corp (delisted) (NASDAQ:XPLR)
Historical Stock Chart
From Jul 2023 to Jul 2024