CalAmp Reaches Comprehensive Agreement to Significantly Reduce Debt, Go Private, and Strengthen Financial Flexibility to Support Innovation Through a Consensual Financial Restructuring

Core Viewpoint - CalAmp has entered into a Restructuring Support Agreement with Lynrock, which will lead to Lynrock becoming the principal equity owner and taking CalAmp private [1][2][3] Group 1: Financial Restructuring - CalAmp plans to exchange approximately $229 million of Convertible Senior Secured Notes held by Lynrock into equity interests in the reorganized company [2] - The company has voluntarily initiated Chapter 11 proceedings to efficiently complete the go-private transaction, with strong support from Lynrock [3] - The restructuring plan aims to eliminate interest on debt and reduce overhead costs associated with being a public company, allowing for increased investment in customer support [4] Group 2: Operational Continuity - Throughout the financial restructuring process, CalAmp's U.S. and international operations will continue without disruption, ensuring that partners are paid in the ordinary course of business [2][3] - The company is committed to emerging from the restructuring with a healthy balance sheet and strong cash flow generation [4] Group 3: Company Overview - CalAmp is a connected intelligence company that provides data-driven solutions to improve operational performance for organizations worldwide [1][5] - The company has over 10 million active edge devices and holds more than 275 approved or pending patents, positioning itself as a leader in telematics [5]