Comtech Reports Delay In Filing Annual Report; Expects Reporting Significantly Lower-Than-Expected Performance, Primarily In Its S&S Segment, In Q4

Benzinga · 10/17 21:38

To cure defaults, maintain appropriate liquidity and support the Company's transformation initiatives, Comtech entered into a new $25.0 million subordinated unsecured term loan facility with the existing holders of the Company's convertible preferred stock.

Within the terms of the amended credit facility, this new subordinated unsecured term loan allows the Company to maintain a consistent level of borrowing capacity.