RF Industries closes $24.25M Microlab acquisition, funded by $17M term loan and cash

R F INDUSTRIES LTD

Completed purchase of Microlab (RF components business of Wireless Telecom Group) for $24.25M in cash; funded via $17M term loan and cash on hand.
Microlab had unaudited revenue of $16M and adjusted EBITDA of $3.7M for twelve months ended Sep 30, 2021.
Acquisition expected to be immediately accretive to stand-alone financials; largest acquisition in RFIL history.
Entered $3M revolver (due 2024) and $17M term loan (due 2027) with Bank of America; term loan bears 3.76% fixed rate.

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