---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-071120"
form_type: "8-K"
ticker: null
cik: "0000730255"
company_name: "CalAmp Corp."
filed_at: "2023-12-18T23:59:59+00:00"
generated_at: "2026-06-07T11:32:45.900860+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# CalAmp closes $45M term loan, lowers Q3 FY24 revenue guidance to $51-53M

## Summary
- Borrowed $45M from Lynrock Lake at SOFR+6.75%, matures Dec 2027; proceeds for general corporate purposes.
- Amended Convertible Notes due 2025 to add equal-security interest (pari passu with term loan).
- Now expects Q3 FY24 revenue $51-53M, cash ~$38M; cited headwinds in TSP segment and cost reduction initiatives.
- Cost Reduction Program and strategic realignment announced to reduce breakeven point.
- Q3 FY24 results to be announced in early January.

## SEC filing metadata
- accession: 0000950170-23-071120
- form_type: 8-K
- cik: 0000730255
- company_name: CalAmp Corp.
- filed_at: 2023-12-18T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.02, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/730255/000095017023071120/0000950170-23-071120-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/730255/000095017023071120/camp-20231215.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-071120
- JSON: https://secwatch.observer/filing/0000950170-23-071120.json
- Plain text: https://secwatch.observer/filing/0000950170-23-071120.txt

## Key facts
- Debt Financings
  CalAmp Corp. incurred term loan of $45,000,000 with Lynrock Lake Master Fund LP at secured overnight financing rate (SOFR) plus 6.75% maturing December 15, 2027.
  - Instrument: term loan
  - Principal: $45,000,000
  - Counterparty: Lynrock Lake Master Fund LP
  - Rate: secured overnight financing rate (SOFR) plus 6.75%
  - Maturity: December 15, 2027
  - Event: incurrence
  source text: the “Borrowers”), entered into a Credit Agreement (the “Credit Agreement”) with Lynrock Lake Master Fund LP (“Lynrock” or “Lender”) under which the Borrowers have borrowed $45,000,000 (the “Term Loan”). Amounts owing under the Credit Agreement are guaranteed by the Borrowers and certain existing and future subsidiaries of the Company, and will be secured by
  evidence_url: https://www.sec.gov/Archives/edgar/data/730255/000095017023071120/0000950170-23-071120-index.htm
- Debt Financings
  CalAmp Corp. amended convertible notes with Lynrock Lake Master Fund LP.
  - Instrument: convertible notes
  - Counterparty: Lynrock Lake Master Fund LP
  - Event: amendment
  source text: in favor of the holders of the Convertible Notes. The Convertible Notes will rank pari passu, or equal in right of payment, with the Term Loan.
  evidence_url: https://www.sec.gov/Archives/edgar/data/730255/000095017023071120/0000950170-23-071120-index.htm
- Earnings Releases
  CalAmp Corp. updated its FY24 Q3 guidance (reaffirmed).
  - Period: FY24 Q3
  - Guidance: reaffirmed
  - Result: guidance update
  source text: The Company issued a press release on December 18, 2023, updating its expectations with respect to financial results for FY24 Q3
  evidence_url: https://www.sec.gov/Archives/edgar/data/730255/000095017023071120/0000950170-23-071120-index.htm
- Material Agreements
  CalAmp Corp. entered into Credit Agreement with Lynrock Lake Master Fund LP valued at $45,000,000 (effective 2023-12-15).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Lynrock Lake Master Fund LP
  - Value: $45,000,000
  - Effective: 2023-12-15
  source text: On December 15, 2023, CalAmp Corp. (the “Company”) and two of its domestic subsidiaries, CalAmp Wireless Networks Corporation and Synovia Solutions LLC (together with the Company, the “Borrowers”), entered into a Credit Agreement (the “Credit Agreement”) with Lynrock Lake Master Fund LP (“Lynrock” or “Lender”) under which the Borrowers have borrowed $45,000,000 (the “Term Loan”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/730255/000095017023071120/0000950170-23-071120-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.