Digirad Corporation Announces Closing of Credit Facility with Comerica Bank
The Revolving Credit Agreement is a five-year revolving credit facility, with a maximum credit amount of
In conjunction with the closing of the Comerica Revolving Credit Agreement, the Company also announced the termination and payoff of its previous Credit Facility with Wells Fargo.
The new Comerica Revolving Credit Agreement has an overall interest rate of LIBOR plus 2.35%.The previous Credit Facility with Wells Fargo incurred interest at LIBOR plus 2.00% to 5.00%, with the largest tranches being at LIBOR plus 2.50% and 5.00%.
Keyes continued, "We believe Comerica is an excellent partner that will provide strong support for our business strategy."
This press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995. Some of these forward-looking statements can be identified by the use of forward-looking words such as "believes," "expects," "may," "will," "should," "seek," "approximately,"
"intends," "plans," "estimates," or "anticipates," or the negative of those words or other comparable terminology, or in specific statements such as the Company's ability to deliver value to customers, the ability to grow and generate positive cash flow, the ability to execute on restructuring activities, and ability to successfully execute acquisitions. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These risks are detailed in Digirad's filings with the
For more information contact:
Jeffry KeyesChief Financial Officer 858-726-1600 email@example.com
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