Track Group completes $10.3M PIPE and $21M term loan, reduces net debt 63%

Track Group, Inc.

PIPE raised ~$10.3M at $0.35/share from CRC (49.25%) and JCP (49.25%); management participated 1.5%.
New $24M credit facility with $21M term loan at 13.5% fixed (11% cash, 2.5% PIK), maturing 2031.
Settled $42.86M Conrent debt for $23.52M (~45% discount); net debt reduced ~$27M (63% decrease).
Board reconstituted: Denver Smith (Chair), Kyle Kidd, Matthew Powalski, Jacob Saour, John Sullivan, plus CEO Derek Cassell.
Authorized common shares increased from 30M to 60M to accommodate PIPE shares and warrants.

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