Airgain Secures $25M Credit Facility
Ticker: AIRG · Form: 8-K · Filed: Mar 7, 2024 · CIK: 1272842
| Field | Detail |
|---|---|
| Company | Airgain Inc (AIRG) |
| Form Type | 8-K |
| Filed Date | Mar 7, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $5.0 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: financing, credit-facility, debt
TL;DR
AIRGAIN just inked a $25M credit deal with MidCap, replacing the old one. Expires March 2027.
AI Summary
On March 6, 2024, Airgain Inc. entered into a Material Definitive Agreement, specifically a Credit Agreement with MidCap Financial Trust, which provides a $25 million revolving credit facility. This agreement replaces their previous credit facility and is set to mature on March 6, 2027.
Why It Matters
This new credit facility provides Airgain with enhanced financial flexibility and liquidity, crucial for its ongoing operations and potential growth initiatives.
Risk Assessment
Risk Level: low — The filing details a standard credit agreement, which is a routine financial transaction for a public company and does not inherently present new risks.
Key Numbers
- $25M — Revolving Credit Facility (Amount provided by MidCap Financial Trust)
- March 6, 2027 — Maturity Date (Expiration of the new credit agreement)
Key Players & Entities
- Airgain Inc. (company) — Registrant
- MidCap Financial Trust (company) — Lender
- $25 million (dollar_amount) — Revolving credit facility amount
- March 6, 2024 (date) — Date of the agreement
- March 6, 2027 (date) — Maturity date of the credit facility
FAQ
What is the purpose of the new credit agreement?
The new credit agreement provides Airgain Inc. with a $25 million revolving credit facility to replace its previous credit facility.
Who is the lender in this new credit agreement?
The lender is MidCap Financial Trust.
When does the new credit facility mature?
The new credit facility matures on March 6, 2027.
What is the total amount available under the new credit facility?
The total amount available under the new credit facility is $25 million.
Does this new agreement replace a previous credit facility?
Yes, this new credit agreement replaces Airgain Inc.'s previous credit facility.
Filing Stats: 841 words · 3 min read · ~3 pages · Grade level 10.5 · Accepted 2024-03-06 17:36:02
Key Financial Figures
- $0.0001 — nge on which registered Common stock, $0.0001 par value per share AIRG Nasdaq Cap
- $5.0 million — ng an aggregate offering price of up to $5.0 million in "at the market" offerings through or
Filing Documents
- d536558d8k.htm (8-K) — 29KB
- d536558dex11.htm (EX-1.1) — 221KB
- d536558dex51.htm (EX-5.1) — 13KB
- g536558dsp55.jpg (GRAPHIC) — 8KB
- g536558g0305115419065.jpg (GRAPHIC) — 2KB
- 0001193125-24-060908.txt ( ) — 462KB
- airg-20240306.xsd (EX-101.SCH) — 3KB
- airg-20240306_lab.xml (EX-101.LAB) — 18KB
- airg-20240306_pre.xml (EX-101.PRE) — 11KB
- d536558d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 1.1 At-The-Market Issuance Sales Agreement by and between the Registrant and Craig-Hallum Capital Group LLC, dated March 6, 2024 5.1 Opinion of Latham & Watkins LLP 23.1 Consent of Latham & Watkins LLP (included in Exhibit 5.1) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AIRGAIN, INC. Date: March 6, 2024 By: /s/ Michael Elbaz Michael Elbaz Chief Financial Officer and Secretary