Comtech enters $162M term loan and $60M ABL credit facility, issues warrants at $0.10 strike

COMTECH TELECOMMUNICATIONS CORP /DE/

New $162M term loan and $60M ABL facility; $25M drawn at closing, used to repay existing credit facility.
Issued 1,435,884 warrants to lenders with $0.10 exercise price, expiring June 2031, including put rights.
Exchanged all Series B Convertible Preferred for Series B-1 shares; conversion price stays $7.99 per share.
Covenants include Fixed Charge Coverage ≥1.20x (rising to 1.35x) and Net Leverage ≤3.25x (stepping down to 2.65x).
Matures July 31, 2028; interest margins 4.75%-10.00% above SOFR or Base Rate.

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