DZS INC.: M&A transaction — DZS completes NetComm acquisition for $7M, secures $15M loan from EdgeCo with 13% interest

DZS INC.

Acquired NetComm Wireless (Australia) for $7M purchase price; adds DPU, WiFi, FWA, IIoT products.
EdgeCo provided $15M term loan at 13% fixed rate, due May 31, 2027; secured by assets.
Issued warrant to EdgeCo for 6.1M shares at $0.9095/share (85% of April 18 closing price).
Loan proceeds used for acquisition purchase price and NetComm operating capital.
Combined company targets U.S., EMEA, and ANZ broadband markets; government stimulus poised to help.

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Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

DZS INC. completed an acquisition involving Casa Communications Holdings Pty Ltd (Administrators Appointed) for $7,000,000 (closed 2024-06-01).

Action: acquisition
Counterparty: Casa Communications Holdings Pty Ltd (Administrators Appointed)
Consideration: $7,000,000
Closing: 2024-06-01

Exact text from the filing

Wireless Pty Ltd (Administrators Appointed) ACN 002 490 986, a private limited company registered in New South Wales, Australia (the “Target Company”), for a purchase price of $7,000,000, subject to certain adjustments. The foregoing description of the Share Purchase Agreement is only a summary, does not purport to be complete and is subject to, and qualified in

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Source: SEC EDGAR

accession 0001101680-24-000062

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