secwatch.observer — SEC 8-K summary
======================================

Issuer:     CalAmp Corp. (—)
CIK:        0000730255
Form:       8-K
Filed at:   2023-12-18T23:59:59+00:00
Accession:  0000950170-23-071120
Event type: debt
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 2.02, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/730255/000095017023071120/0000950170-23-071120-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/730255/000095017023071120/camp-20231215.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-071120

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer