ADTN enters Fifth Amendment waiving defaults, reducing credit line to $350M

ADTRAN Holdings, Inc.

Fifth Amendment waives existing events of default from inaccurate financials for Q2/Q3 2024 and covenant breaches.
Total commitments reduced from $374M to $350M; German borrower sublimit cut from $74M to $50M.
German borrower prepaid $24M in revolving loans as part of the amendment.
Borrowers paid a consent fee of 0.025% of each consenting lender's commitment.
Credit parties reaffirm obligations; general release given to lenders and agent.

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