Xplore Technologies Corp. (NASDAQ:XPLR) Files An 8-K Entry into a Material Definitive Agreement


Xplore Technologies Corp. (NASDAQ:XPLR) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement

On February 1, 2018, Xplore Technologies Corp. (the “Company”) and its wholly-owned subsidiaries entered into an Amendment to Loan and Security Agreement (the “Amendment”) with Bank of America, N.A., effective January 25, 2018, which amended a previously executed Loan and Security Agreement, dated April 17, 2017 (the “Loan Agreement”).

The Amendment provides additional borrowing capacity under the Loan Agreement by increasing the maximum revolver amount that the Company can borrow under the Agreement from $15,000,000 to $20,000,000. The Amendment also adjusts certain triggers to enhanced reporting by the Company under the Agreement and extends the termination date for revolving loans under the Loan Agreement to January 25, 2021.

The above description of the Amendment is qualified in its entirety by reference to the terms of the Amendment attached hereto as Exhibit10.1.

Section9 — Financial Statements and Exhibits

Item 1.01 Financial Statements and Exhibits

EX-10.1 2 ex10-1.htm EX-10.1 Exhibit 10.1   AMENDMENT TO LOAN AND SECURITY AGREEMENT This AMENDMENT TO LOAN AND SECURITY AGREEMENT (this “Amendment”) is made as of January 25,…
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About Xplore Technologies Corp. (NASDAQ:XPLR)

Xplore Technologies Corp. (Xplore) is engaged in the development, integration and marketing of rugged mobile personal computers (PCs). The Company’s rugged tablet PCs are designed to withstand various conditions, such as extreme temperatures, driving rain, repeated vibrations, dirt, dust and concussive shocks. Xplore’s products are used by a range of field personnel, including energy pipeline inspectors, public safety responders, warehouse workers and pharmaceutical scientists. Its tablets are fitted with a range of accessories, including various docking solutions, wireless connectivity alternatives, global positioning system modules, biometric and smartcard options, as well as traditional peripherals, such as keyboards and cases. Xplore’s tablets also include long-term evolution (LTE) and wireless fidelity (Wi-Fi) connectivity options for real-time data access. Its products include the iX104 product family, Xslate B10, Motion R12, Motion F5m/C5m, Bobcat and Xslate D10.