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News Breaks | | | | September 12, 2012 | | 09:19 EDT |  | PWAV | Powerwave enters into $50M credit agreement
Powerwave Technologies has entered into a new $50M senior secured credit agreement with P-Wave Holdings, LLC, an affiliate of The Gores Group. The lenders advanced $35M to the company and agreed to loan an additional $15M to the company upon request. The new credit agreement also includes an accordion feature that allows the company to request up to an additional $100M in term loans from the lenders. In connection with this initial loan, the lender received warrants to purchase a total of 2,625,000 shares of the company’s common stock with an exercise price for the warrants of 50c per share. | |
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