Lantronix had $6.7M (85% of deposits) at failed Silicon Valley Bank; deposits fully safeguarded

LANTRONIX INC

Lantronix had $6.7M deposits at Silicon Valley Bank (~85% of total deposits) as of March 10.
Treasury, Fed, FDIC jointly announced March 12 that all SVB depositors are fully protected.
Management secured verbal commitments for up to $5M in loans from directors, officers, and advisors.
Company no longer needs contingency loans; expects sufficient cash from operations to fund foreseeable obligations.

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