UBIQUITI NETWORKS, INC. (NASDAQ:UBNT) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
certain subsidiaries of the Company entered into the First
Amendment (the First Amendment) to the Amended and Restated
Credit Agreement, dated as of March 3, 2015 (the Credit
Agreement), governing the Companys senior secured credit
facilities, by and among the Company and Ubiquiti International
Holding Company Limited, a wholly-owned subsidiary of the
Company, as borrowers, certain subsidiaries of the borrowers, as
guarantors, the lenders and other financial institutions party
thereto and Wells Fargo Bank, National Association, as
administrative agent (Wells Fargo).
revolving loan commitments from $200 million to $300 million and
(b) allows for an incremental increase of $50 million in the form
of term loans or revolving credit commitments, subject to the
Companys pro forma compliance with financial covenants, the
administrative agents approval, the Company obtaining commitments
for such increase and other customary conditions. The First
Amendment also provides that the Company and certain of its
subsidiaries will be required to maintain minimum liquidity of
$250 million, which represents a $25 million increase from the
previous minimum liquidity test. All other material terms and
provisions of the Credit Agreement remain substantially identical
to the terms and provisions in place immediately prior to the
effectiveness of the First Amendment, other than the revision or
inclusion of certain customary market provisions.
to be complete and is qualified in its entirety by reference to
the full text of the First Amendment which is filed herewith as
Exhibit 10.1 and is incorporated herein by reference.
party to the Credit Agreement, as amended by the First Amendment,
and certain of their respective affiliates, have provided, and in
the future may provide, financial, banking and related services
to the Company. These parties have received, and in the future
may receive, compensation from the Company for these services.
under an Off-Balance Sheet Arrangement of a Registrant.
is incorporated into this Item 2.03 by reference.
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ExhibitNo.
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Description
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10.1
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First Amendment, dated as of April 14, 2017, to Amended
and Restated Credit Agreement, dated as of March 3, 2015, by and among Ubiquiti Networks, Inc. and Ubiquiti International Holding Company Limited, as borrowers, certain subsidiaries of the borrowers, as guarantors, the lenders and other financial institutions party thereto and Wells Fargo Bank, National Association, as administrative agent. |
About UBIQUITI NETWORKS, INC. (NASDAQ:UBNT)
Ubiquiti Networks, Inc. develops performance networking technology for service providers and enterprises. The Company offers a portfolio of networking products and solutions. Its service provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing. Its enterprise product platforms provide wireless local area network (WLAN) infrastructure, video surveillance products, switching and routing solutions, and machine-to-machine communication components. Its products and solutions include radios, antennas, software, communications protocols and management tools that are designed to deliver carrier and enterprise class wireless broadband access and other services primarily in the unlicensed radio frequency spectrum. Its service provider and carrier solutions include Base Station/Backhaul/Customer Premise Equipment (CPE)/Bridge-airMAX, Network Routing Platform-EdgeMAX and Point-to-point Wireless Backhaul-airFiber. UBIQUITI NETWORKS, INC. (NASDAQ:UBNT) Recent Trading Information
UBIQUITI NETWORKS, INC. (NASDAQ:UBNT) closed its last trading session up +0.36 at 50.63 with 347,396 shares trading hands.
